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Settled in Full Accounts are No Longer Reporting when Balance Becomes Zero

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Once an account has been reported as a PIF account, the account will only be reported again if a withdrawn description code is added to it.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

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