My understanding is that you do report the declining balance... if you look at the Field Definitions for the Base Segment of the Metro 2 Guide under the Original Charge-Off Amount, it instructs that for Status Codes 64 & 97 "report the
original amount charged to loss, regardless of the declining balance. Report whole dollars only.
If payments are received from the consumer, report the outstanding balance in the Current Balance and Amount Past Due fields."
Once the debt is paid in full you would adjust the codes to reflect that.