Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
Re: What is the appropriate status for a paid/closed installment account?

The reporting of the CO remains, as it is a prior delinquency code, not an ultimate payment status code.

 

What will change when the debt that was charged-off is paid is the balance due the creditor, which will be $0, and the current status, which will be "Paid."

A delinquency code is not altered by changes in its current payment status.