Re: What is the appropriat
e status for a paid/close d installmen t account?
09-03-2012 01:01 PM
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.