Does Account Status Code 13 = Paid In Settlement?

[mf91745]

I completed a HAFA short sale in Oct 2012. HAFA rules say it should be reported with "Account Status Code 13: Paid or closed account/zero balance" (see top of page 19, HAFA Supplemental Directive 12-02).

My EX tradeline for the short sale says:

  Status: Paid in settlement.

  Creditor's Statement: Account legally paid in full for less than full balance.

That does not seem consistent with HAFA rules. Was it mis-reported by the lender? Should I dispute w/ the lender first?

Thanks for any advice.

[RonM21]

13
Paid or closed account/zero balance.

I typed this exactly as it was listed from a site listing the different CB codes. Not sure if that's what you wanted to confirm.

[mf91745]

Thanks, but ... that wasn't quite what I was asking.

My Experian report says: "Status: paid in settlement." I thought it should say, "Paid or closed account/zero balance." I was wondering why. Was it misreported?

[RobertEG]

Any debt that has satisfied, regardless whether the creditor received the entire debt or settled for less, is a satisfiled debt, requiring the reporting of paid.

The status code 13 says it is paid, and no further debt is owed.

Paid for less is entered by way of an additonal special comment addressing the manner in which the debt was satisfied.

I see no discrepancy or inaccuracy.

However, should you feel otherwise, send a direct dispute to the lendor. 

If they concur, you would be asking them to delete the reporting of that special comment.  I would not anticipate their deletion.