Collection Options Screen |
  
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Collection Options Screen |
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The Collection Options screen is used to set up institution defaults to designate when a loan would appear in the Collection Queues and the order in which the accounts would appear in the collection queues.
You would set up when accounts would appear in the Collection Queues based on the loan due date, grace days, or after one payment frequency has been reached.
Once it has been determined when loans would appear in the collection queue, you then set up the order that the collection queue would be sorted by: Account Number, Due Date, Principal Balance, Amount Due, or the Number of Delinquent Payments. The final sort would be in ascending or descending order.
For example, you could set up accounts to appear in the collection queues only after the grace days have been reached. Then they could be displayed in the queue in descending due date order (the most delinquent would appear at the top), then by account number for each due date sort.
Note: The options on this screen are only used if an institution is not using the Variable Queue feature except for the Selection Option field.
WARNING: Since a lot of borrowers do not make payments prior to the grace days, using the Pull Loans Past Due Date option will create extremely large queues. In addition, collection records will be created for these loans. Institutions are charged for each collection record so selecting this option could become very expensive.
Note: The Sort Options field group will not display if variable queues are being used. This is to eliminate any confusion as to where queue sorts are set up. If variable queues are being used, the sort options are set up in Loans > Collections > Queues > Variable Queue Setup; if you are not using variable queues then you would use the Sort Options field group on this screen.
See the following example of this screen, followed by links to field descriptions:
Loans > System Setup > Collection Options Screen
Sort Options (only appears if not using Variable Queues)