Re: What is the appropriat
e status for a paid/close d installmen t account?
09-07-2012 12:04 PM
If you look at the above from Equifax.com, there is a "Status" field which is sayingAYS 31-60 DAYS and there is an activity designator and it lists: Activity Designatoraid and Closed . The account history table shows there was on 30 day past due in Mar of 2009. The definition of the status field according to Equifax is: The condition of the account when last updated by creditor or otherwise. When I closed this account in June and the status changed from Current to PAYS 31-60 DAYS, I got a myFICO alert telling me my score had dropped (>70 points) and when I ran the report it said I had a recent late pay in the last month... I haven't had any kind of late pay in years.... this has to be the cause and if that is the case, I would advise anyone who has an old late on an account to not pay it early because FICO (my other scoring models did not do this) treats it as if you recently were late... I could have just as easily just kept paying the payments for another 2 years and not had this plummet my credit right before my refi....ugh
Starting Score: EQ 740, EX 792 (lender pull), TU 772 (lender pull)
Current Score: EQ 767, EX 792 (lender pull), TU 772 (lender pull)
Goal Score: 2 over 760 and one over 800--still looking to get one over 800!
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