Ch 4 Base Segment Field 27

The video covers Base Segment Field #27, "Date of Last Payment," from Chapter 4 of the Metro 2 Credit Reporting Resource Guide, aiding readers in using Metro 2 to accurately read credit reports, identify errors, and draft dispute letters to consumer reporting agencies (CRAs). This field requires reporting the date of the most recent payment—full or partial—with a default day of "1" if unavailable (e.g., for new accounts).

This field ensures payment activity is tracked; discrepancies, such as a missing or incorrect date despite payment history, can be flagged as errors under Metro 2’s standard, providing a basis for dispute letters to CRAs to correct inaccuracies.