Collection Class Defines If And How Accounts Are Monitored
As described above, every account references a collection class. The collection class defines if and how its accounts are monitored. There are three options:
- The accounts are monitored by the Account Debt Monitor
- The accounts are monitored by the Overdue Monitor (this is described in this chapter).
- The accounts are not monitored for overdue debt.
Migration. If you plan to migrate from the Account Debt Monitor (ADM) method of collection to the Overdue Monitor method, a special Overdue Monitor algorithm (C1-ACT-CSW) has been supplied that will skip accounts that are eligible for review by the Overdue Monitor if they have an active collection, severance or write-off process. This algorithm should be plugged in the applicable Collection Class Overdue Rules so that it will be invoked first. This allows accounts with active ADM-oriented collection activities to work themselves through the system. When an account no longer has any active ADM-oriented activities, monitoring responsibilities will be assumed by the Overdue Monitor.