Types Of Collection Events

The following table describes the various types of collection events and what happens when they are completed.
Type Of Collection Event	What Happens In The System
`Send Letter`	A customer contact is created for every financially responsible person linked to the account. The customer contact causes a letter to be produced. The type of letter is defined on the customer contact's contact type. The recipient of each letter is defined on Account / Person (those persons marked as Receiving Notifications).
`Create To Do Entry`	A To Do entry is created. Refer to The Big Picture of To Do Entries for more information about To Do entries.
`Affect Credit Rating/Cash-Only`	An account credit rating demerit record is created. The number of demerits is defined on the collection event type.
`Cancel Budget`	Every contract linked to the account that is on a budget is "removed" from the budget (i.e., the recurring charge amount for the contract is set to zero). In addition, a syncing adjustment is issued to cause each contract's current balance to be set equal to their payoff balance (the adjustment type is defined on the contract's contract type).
`Generic Algorithm`	The algorithm defined on the event's event type is executed.

Fastpath: Refer to Setting Up Collection Event Types for more information.