Metro 2 account status code 62: paid in full, was a collection
The account had been sent to collections, either the lender's own collection department or an outside agency, and was later paid in full. The collection history stays visible, but the status now shows the debt is satisfied. It takes the place of status 93, which describes a collection that's still open, once nothing more is owed.
How it shows on your report
"Paid collection" or "Paid, was a collection account," with a $0 balance.
How it affects your score
Newer models such as FICO 9 and 10 and VantageScore 3.0 and 4.0 ignore paid collections. FICO 8 and the older FICO versions most mortgage lenders use still count them.
What to check
Balance and past due should be zero. Paying a collection should not move the date of first delinquency or push the removal date later. If the original creditor still shows a balance on the same debt you paid to a collector, one of the two tradelines is wrong.
If this code is wrong on your report
- Metro 2 explained: the data format behind your credit reportHow lenders send coded data to the bureaus, and how disputes travel back to them.
- How to dispute a credit report error, step by stepA step-by-step guide to disputing credit report errors with Equifax, Experian and TransUnion: online vs. mail, what to include, and how to keep proof.
- Letter builderWrite dispute, goodwill, validation and identity theft letters. Free, printed by you, sent by you.
Glossary: account status code, Metro 2
Sources
- Metro 2 Account Status Codes (Bureau Relay, formerly metro2.switchlabs.dev)
- Account Status Codes (The Mortgage Office help center)
- Handling Metro II Account Statuses (Oracle Financial Services Lending and Leasing documentation)
These explanations are ScoreTuner's plain-English summaries. The official specification is the CDIA Credit Reporting Resource Guide, which is copyrighted and not reproduced here. This is education, not legal advice.