Account Status Fundamentals
Status codes express current condition; they must align with balances and past-due.
Alignment rules
Current or paid accounts should not show past-due amounts. Final derogatory codes often require a closed date. Edits compare status with other fields, so mismatches lead to rejects or inaccurate consumer disclosures.
Interplay with payment rating and history
When an account crosses certain delinquency thresholds or enters a final condition, a payment rating may be required and the payment history profile should reflect the transition in the month it occurred.
A clean status line paired with a contradictory history (e.g., history shows late months but status=Current and past-due=0) triggers confusion and often disputes.
Examples
Paid-in-full (closed) this month: set status to paid/closed, set current balance to 0, and populate the closed date; past-due should be 0.
60+ days delinquent: status indicates appropriate delinquency tier, past-due reflects total delinquent amount, payment rating is provided where required, and history shifts to a derogatory symbol for this month.