Bankruptcy Transaction Screen > Bankruptcy Transactions field group

Entry: User, radio button, alphanumeric, and drop-down lists

F/M: Yes

Mnemonic: See below

Before processing a bankruptcy, select an account for which you want to run the bankruptcy transaction. See the steps on the main Bankruptcy Transaction help for information on how to look up and select a name for which you want to run a bankruptcy transaction. Once the name is selected, complete the following steps.

To process a bankruptcy:

1.Select the Bankruptcy radio button.

2.In the Chapter (BKCHAP) drop-down list, select what type of bankruptcy chapter to apply to this account. Possible selections are 7, 11, 12, or 13.

3.Enter the case number for the bankruptcy in the Case (BKCASE) field. The number should be on the document sent by the bankruptcy court to your institution. The only required segments are the year and sequence.

4.In the File Date field, enter the date shown on the bankruptcy notice as the filing date.

5.Enter the date the bankruptcy was petitioned in the Petition Date field. This date is indicated on the document sent by the bankruptcy court.

6.Click <Run Transaction> and the system will automatically file maintain other fields in CIM GOLD pertaining to the bankruptcy. The system will update the CIID (Consumer Information Indicator) according to what chapter of bankruptcy was filed.

•"A" is for Chapter 7 bankruptcies

•"B" is for Chapter 11 bankruptcies

•"C" is for Chapter 12 bankruptcies

•"D" is for Chapter 13 bankruptcies

This will be reported to credit repositories at monthend during the Credit Reporting process.

For a more detailed explanation, see the main Bankruptcy Transaction screen help.