Collection Process - Contracts
The Contract page contains the contracts whose debt is being collected by the collection process. Open this page using Delinquency Management, Collection Process, Contracts.
Description of Page
The top portion of every page in this page contains the following information:
Collection Process is a concatenation of summary information about this collection process. It is composed of the name of the main customer on the account, the collection status, the reason code for the collection status, the collection class control name, and the creation date of the process.
ID is the unique system-generated identifier for this collection process.
The Collection Contracts scroll contains the contract being collected under this collection process. To modify a contract linked to the collection process, simply move to a field and change its value. To add a new contract, press the + button to insert a row, then fill in the information for each field. The following fields display:
Contract ID identifies the contract being collected. Information about the contract is displayed beneath the contract ID.
Status defines the state of the contract in respect of the collection process. The following values may exist:
Active An Active contract is one currently being collected by the collection process. The contract will remain in this state until the last event linked to the process is complete OR the customer pays the collection amount on the contract OR you want to remove the contract from the collection process for whatever reason.
Inactive A contract becomes Inactive within the collection process when the last event linked to the process is completed OR the customer pays the collection amount on the contract OR you want to remove the contract from the collection process for whatever reason
The Collection Amount is the amount of debt that initially triggered the collection process. This will be zero for collection processes that were created manually.
The Amount Still Owing is the amount of debt older than the Collection Amount Base Date defined on the Main page.
The Credit Amount is displayed if the Amount Still Owing is less that zero.
The Contract Balances area displays how much is owed for the contract. The Days Old and Arrears Amount information shows how old the current balance is. This information will be blank if the current balance is a credit.
Current Balance indicates the amount the customer currently owes for the service. Payoff Balance indicates the amount the customer would owe if they wanted to close the contract. This value is only displayed when it differs from the current balance.