Banking · Credit Report Status Codes
In a Credit Information Report (CIR), what does the status code 'Settled' signify and how does it typically affect the credit score?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1It indicates full payment of dues, boosting the credit score similar to a 'Closed' status.
- 2It indicates that the lender accepted a lower payoff amount than originally due, leading to a negative impact on the credit score.✓
- 3It indicates that the account is under active litigation and ignored by scoring models.
- 4It is a code used exclusively for agricultural loans and carries no weight for retail borrowers.
Correct answer
It indicates that the lender accepted a lower payoff amount than originally due, leading to a negative impact on the credit score.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Banking?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Credit Report Status Codes MCQs →Want more practice questions on Credit Report Status Codes?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Banking · Credit Report Status Codes