In 2011, based on discussions with the credit bureaus Quantrax changed the SIF reporting file rules.
SIF accounts are now reported in the file with the following:
- an account status of 62 = designates - account paid in full, was a collection account
- a special comment of AU = designates - account legally paid in full for less than the full balance
- a zero balance
At the account level we:
- update the account credit reporting flag as a 2 = reported - PIF
- log a note to the account that it was reported as a SIF
Once an account has been reported as a PIF account, the account will only be reported again if a withdrawn description code is added to it.
Keywords - Article Credit Reporting SIF Accounts