System Event | Optional / Required | Description |
Collection Process Cancellation | Required if debt class is eligible for collection | This algorithm determines if a collection process can be canceled, and if so, it cancels it. Refer to How Are Collection Processes Cancelled for more information. |
Severance Process Cancellation | Required if debt class is eligible for collection | This algorithm determines if a severance process can be canceled, and if so, it cancels it. Refer to How Are Severance Processes Cancelled for more information. |
Override Arrears Due to Pay Plan | Required if you use Pay Plans | This algorithm is called to temporarily override a customer's arrears using a pay plan's scheduled payments when the system looks at an account's debt from a credit & collections perspective (i.e., the ADM calls this algorithm before it subjects a customer's debt to the collection criteria and when a pay plan is created). It does not actually change any data, but overlays the current arrears with the pay plan scheduled payments. This algorithm is also called by the above algorithms when a pay plan is created in order to evaluate if the scheduled payments actually cover the arrears (if so, the collection / severance processes are cancelled). It is also called periodically by the ADM in order to establish if the current state of the pay plan still covers the arrears. Refer to How Pay Plans Affect The Account Debt Monitor. |