Collections Inquiry

Check out the video related to this topic: Assigning a Collector (More videos below!)

Description

(Used for loan accounts only.) This column shows the Employee ID of the collections officer assigned to this loan. This is stored as part of the actual loan record. Use the “Assign” option to change this setting for any account (works on loans only).

• NOTE: A collector ID of *O represents a delinquent OTB credit card or loan account.

This column is used to mark those accounts which have been “worked”—in other words, a contact was made or progress was reported on the delinquent account. Because this screen can also be accessed by credit union leaders as a way of tracking collections activity, it is important to log the dates on which each account is handled by a collector.

Place a checkmark in this column for each account which was worked and use Enter. The current date will be placed in the Mo/Day column for each item checked.

• NOTE: This is NOT the same date used in dormancy monitoring, so updating the contact date here will not bring a dormant account out of dormancy.

This column shows the date on which a collector last was in contact with this member regarding the delinquent status. This field provides an excellent way to keep track of collections efforts and make sure that delinquent accounts are getting the necessary attention.

To update this field, place a checkmark in the previous column and use Enter. The current date (month and day) will be recorded as the last contact date. (To remove the date, click the checkbox twice then press Enter.)

The account base and account type suffix.

The Memo Type Code from the last conversation on this member's XX Collection Card Tracker record.

• HINT: To see a description of a particular memo type, select a record and use the “Last Note” option.

NOTE: The memo type “CV” means conversion, and was assigned to all existing Collection Card Tracker conversations when the new software was implemented in Spring 2007.

The member's name.

• CU*TIP: Select the record and use the Contact information option to see the member's full name, along with phone numbers and an email address for the member, if any.

This shows a code indicating the reason the account appears on this list:

DELQ Delinquent loan

OVRL Overline line of credit (LOC) account

NEGB Negative balance share account

• If this reads NEG* instead, it means the Negative Balance Limit on the account is greater than $0.00.

WOFF Written-off loan account

For delinquent loans, these columns show the total number of days the loan is delinquent.

For negative balance share accounts, the Days column shows the number of days since the account became negative, as measured from the 1st Date Negative field on the account record.

For delinquent and written-off loans, and for negative balance shares, this column shows the current balance on the account.

For overline lines of credit, this column shows the total amount which is over the disbursement limit on the account. For example, if the disbursement limit on the account is $4,500.00 but a total of $4,515.22 has been disbursed to the member, this column would show $15.22 as the overline amount.

• NOTE: If the loan disbursement limit has been changed to $0.00 to prevent additional disbursements, this will show the current loan balance instead.

The last date on which a transaction was posted to the account.

Description

Use this option to change the collector ID assigned to a loan account.

• This option works only on loan accounts (DELQ, OVRL, and WOFF items).

Mass reassign the collector on your loans in an easier way!  Check out Tool 1075: Reassign Collector on Accounts,  You can even reassign negative balance accounts, in addition to delinquent, negative balance and written-off loans!

Use this option to change the Negative Balance Limit on a share draft or savings account.

• This option works only on checking or savings accounts (NEGB or NEG*) - but not other share type accounts that are negative.

Use this option to view or update the Household Database information for this member.

• This option will work on any account type.

If a follow-up exists for this member, use this option to move to the Follow-up screen to work it.

Use this option to print member letters or other correspondence, using the Misc. Member Account Forms feature.

• This option will work on any account type.

Use this option to access the Participation Loan tracking software to view or adjust settings for a participation loan. (These accounts will appear shaded in the list.)

• This option will work only on delinquent loan accounts (DELQ).

Use this option to work with the Collections Card tracker or any other tracker record that is attached to the member's 000 base share account. (Once on the next screen, you can change the account type to be any other sub-account you wish to work.)

• This is the most frequently used option on this screen.

Use this option to work with with any tracker records attached to the selected account. (Once on the next screen, though, you can change the account type to be the 000 base share or any other account you wish to work.)

• This works exactly like the “Work Member” feature except that the specific account suffix you selected is automatically filled in on the next screen.

Use this option to view or update Underwriting Comments for this member. These Underwriting Comments are part of the Household Database and can be viewed by loan officers as well as other credit union staff.

• This option will work on any account type.

NOTE: Credit union policy should dictate what types of information should be included in the Underwriting Comments. Generally the Collection Card Tracker is the complete, ongoing record of all collections activity. The Underwriting Comments could be used as a way to summarize information from the Collection Card which would be of particular importance to loan officers dealing with this member on future loan requests.

For negative balance checking accounts (NEGB or NEG*), use this option to view the Negative Balance Limit on the account. A pop-up window will appear.

• Remember that any accounts with a balance limit greater than $0 will appear as NEG* in the list.

For written-off loan accounts (WOFF), use this option to view the Written off date from the loan account. A pop-up window will appear.

Use this to display a pop-up window showing the member's phone and email address information.

• HINT: If the member has an email address, click the email button on that pop-up window to launch an email message using your PC's normal email software.

Use this to view the last conversation from the member's XX Collection Card Tracker record. A pop-up window will appear.

• HINT: If you want to see more than just the last conversation, use the “Work Member” option instead.

Use this option to view the Member Account Inquiry screen for this account.

• This option will work on any account type.

Select this option to move to a the global search screen where you can view all accounts attached to the selected member’s social security number.

Use this option to access the details of the loan when it was written off (the write off history screen).

• This screen will not have data is the loan is not written off.

Description

(Used for loan accounts only.) This column shows the Employee ID of the collections officer assigned to this loan. This is stored as part of the actual loan record. Use the “Assign” option to change this setting for any account (works on loans only).

• NOTE: A collector ID of *O represents a delinquent OTB credit card or loan account.

This column is used to mark those accounts which have been “worked”—in other words, a contact was made or progress was reported on the delinquent account. Because this screen can also be accessed by credit union leaders as a way of tracking collections activity, it is important to log the dates on which each account is handled by a collector.

Place a checkmark in this column for each account which was worked and use Enter. The current date will be placed in the Mo/Day column for each item checked.

• NOTE: This is NOT the same date used in dormancy monitoring, so updating the contact date here will not bring a dormant account out of dormancy.

This column shows the date on which a collector last was in contact with this member regarding the delinquent status. This field provides an excellent way to keep track of collections efforts and make sure that delinquent accounts are getting the necessary attention.

To update this field, place a checkmark in the previous column and use Enter. The current date (month and day) will be recorded as the last contact date. (To remove the date, click the checkbox twice then press Enter.)

The account base and account type suffix.

The Memo Type Code from the last conversation on this member's XX Collection Card Tracker record.

• HINT: To see a description of a particular memo type, select a record and use the “Last Note” option.

NOTE: The memo type “CV” means conversion, and was assigned to all existing Collection Card Tracker conversations when the new software was implemented in Spring 2007.

The member's name.

• CU*TIP: Select the record and use the Contact information option to see the member's full name, along with phone numbers and an email address for the member, if any.

This shows a code indicating the reason the account appears on this list:

DELQ Delinquent loan

OVRL Overline line of credit (LOC) account

NEGB Negative balance share account

• If this reads NEG* instead, it means the Negative Balance Limit on the account is greater than $0.00.

WOFF Written-off loan account

For delinquent loans, these columns show the total number of months and days the loan is delinquent.

For negative balance share accounts, the Days column shows the number of days (the Mths column is not used) since the account became negative, as measured from the 1st Date Negative field on the account record.

For delinquent and written-off loans, and for negative balance shares, this column shows the current balance on the account.

For overline lines of credit, this column shows the total amount which is over the disbursement limit on the account. For example, if the disbursement limit on the account is $4,500.00 but a total of $4,515.22 has been disbursed to the member, this column would show $15.22 as the overline amount.

• NOTE: If the loan disbursement limit has been changed to $0.00 to prevent additional disbursements, this will show the current loan balance instead.

The last date on which a transaction was posted to the account.

Description

Use this to return to the previous screen to change your selection criteria.

Use this to return to the Home Page.

•  If any boxes in the Contacted column were checked, be sure to use Enter to record the current date before using F7.

Use this to toggle between two views

Use this to print a report showing data from your Collections file (you can choose which accounts you wish to print, regardless of what is currently being viewed on this inquiry screen).

Check out these additional video resources!