Closed accounts paid, still showing payment status as late

[Anonymous]

I have a couple of accounts that are Closed, paid in full after being late, but they are still reporting payment status as late. Dispute? 

For example: 

My mortgage that I nearly had to walk away on. It's been paid in full (thank you generous family member co-signer!!!!!) and on EX it's listed as Closed and Paid as the payment status. On TU and EQ, it's saying Closed and Late. All three have comments about paid in full after foreclosure started. 

Thanks guys! 

[Anonymous]

How long ago were they paid?

[Anonymous]

The example given was in January 2016, the other is more recent, like August 2016. Then there's one more from 2013.

[Anonymous]

I believe that unless you made an agreement for the lates to be removed, they wouldn't be. An account shows late pays for 7 years - they do't go away based on whether or not you paid. 

[Anonymous]

But then why does it differ between the reports? Is the one saying paid closed wrong? It shows the latest in the little calendar thing at the bottom still

[Anonymous]

Maybe someone with more experience can chime in, but I think it may just be differing notation by the CRAs. You may be able to get them to change the way it is reporting in the comments, I don't know. But once those late pays are there, they stay there Unless you try to GW, which I recommend. Having them paid and closed will still report the months you were late until seven years have passed.  

BTW, congrats on getting to keep your house! Awesome!

[RobertEG]

If the reporting is showing as Payment Status/rating, it is likely correct.

Accounts have numerous different status codes, including Current Status, Payment Rating/status, Open or Closed status, etc.

For recording of account delinquency or currency, there is the non-historical Current Status, and the historical Payment Rating.

Current status is simply a snapshot of the account status as of its last reporting.  It has no historical information.

If the account is currently derogatory, it will show the current level, such as 30-late, 60-late, or charge-off.

However, once returned to good-standing, the Current Status will revert to paid, or pays as agreed, and be recorded as such in the Payment History Profile.

The prior delinquency status prior to its Current Status is retained in a separate code called the Payment Rating status.

Thus, an account that reached 90-late and was then returned to pays as agreed would have a Current Status of "OK", and a Payment Rating of 90-late.

The two status codes thus work together to provide a more complete view of the history to those reviewing the account history.

[Anonymous]

Thank you very much Robert!