Again, what is the "Current Status?" Not any other status. Date of a "status" is unspecific.
The current status on an account showing $0 balance indicates the credtior's statement of the current snapshot status of the debt.
A current balance of $0 does not tell you that.
A current balance of $0 could indicate four things. The debt was discharged by payment in full, the debt was discharged by payment of less than the full amount,the debt was discharged by a BK, or the debt still exists but was sold, and is thus no longer due to the party reporting.
If the debt was discharged by either payment in full or in part, the current status will read the same. Paid. That means the creditor accepted whatever amount was paid as fulfilling the debt due to them. If paid for less, that is recorded separately under a special comment code.
If the debt was discharged by BK, the current status should reflect that.
If the debt was not discharged, but sold, the last delinquency status should remain as the current status, and the current balance will read $0.
I cant think of an update of any other OC status code on a paid or sold acct that would directly affect scoring unless it is an update of a derog to a higher status (meaning the acct is not paid or closed), or the addition of a special comment to reflect paid for less than the full amount.
Also, except for paid for less, which is not even a current status code, FICO does not directly score current status of debt, but rather the derogs that occur along the way. So I dont see all the concern about the account status as it relates to scoring. It goes to the accuracy of your credit file rather than scoring. It is important to have the current status updated, as it tells those reading your CR whether or not the OC has reported discharge of the debt.
