Account Letter Details (Setup)
Purpose
Set up the sequence of Overdue Letters for each lending module. There will be a separate sequence for each lending module. There can be more than one sequence for any lending module.
The sequence will determine the rules to be used by the system to create Overdue Letters.
An Overdue Letter sequence is initiated from a lending module Account Type
Timing
New Overdue Letter sequences can be set up at any time
Changes to Overdue Letter sequences or rules should be carefully considered once Overdue Letters have been created. Expected Letters will have been created from existing rules and sequences. These may need to be manually altered to fit with the new sequence/rules.
Access
- Accounts | Edit/View Overdue Letters
- [F2] in the Next Letter or Letter field
Dialog Details
Details Specific Fields
Field | Explanation |
Communication Type | Each Overdue Letter must be associated with a unique Communication Type The Communication Type specified here will generate a letter addressed to the primary client associated with an account |
| Second Client Comm Type | Select the Communication Type that is to be used for the letter that is to go to the second client This can be the same Communication Type as for the primary client, in which case the same letter will be generated, but with the second client name and address details Alternatively, it can be a separate Communication Type with a letter specific to second clients associated with a loan account |
Guarantor Comm Type | Select the Communication Type that is to be used for the letter that is to go to the guarantor This can be the same Communication Type as for the primary client, in which case the same letter will be generated, but with the guarantor client name and address details Alternatively, it can be a separate Communication Type with a letter specific to the guarantor client associated a loan account |
Severity of Letter | Choose a Severity between 1 and 9. 1 will normally be used for the first Overdue Letter. The Severity will increase until the final letter has a severity of 9. Every number does not need to be used. So, you could use 1, 3, 5 and 9 allowing for letters to be added at a later date. |
Days before this letter | This is the number of Days grace that is allowed before this letter will be automatically generated by the system in the Review and Create Overdue Letters process. If this is set to be 7 days for the first letter, then the system will generate a letter 7 days from the date the account goes into arrears. The Days are cumulative. If the second letter is set to 10 days, that letter will be created 17 days after the account went into arrears |
Set Letter indicator | There are three options here – Normal, Arrangement and Suspend
|
Next Letter | [F2] to select the Overdue Letter that will follow this one if the account is still in arrears once the Days before this letter has expired on the letter selected here |
Send to Second Client | If a letter is to be sent to a second client tick this check box If this check box is ticked on and the Second Client Comm. Type field is left blank the same letter will be sent to the second client as the primary client, substituting the second client name and address details. If there is a Communication Type specified in the Second Client Comm. Type field, this will be used to create the second client letter. |
Send to Guarantor | If a letter is to be sent to a Guarantor as well as the primary client, tick this box. If this tick box is ticked on and the Guarantor Comm. Type field is left blank the same letter will be sent to the Guarantor as the primary client, substituting the Guarantor client name and address details. If there is a Communication Type specified in the Guarantor Comm. Type field, this will be used to create the Guarantor letter |
Amount | This is the Overdue Letter fee that will be charged to the arrears ledger for an account that has this Overdue Letter created for it. This charge will be included in the Overdue Letter at the time it is printed, so the arrears due includes this charge. |
Term Days | Enter Term Day used to calculate a date from the last letter creation date. |
Transaction Type | Select the Transaction Type that will be used to post this charge to the account |
Set Credit Rating | Select the Credit Rating that will be activated in the client database for the client associated with this account |
Print Account Summary | Select from the list box No or Yes. If the Yes option is taken an Account Summary will print as well as the Overdue Letter. These reports print separately from the actual letters, so will have to be matched with the Overdue Letter and then mailed out. |
Account Summary Months | Enter here the number of months the Account Summary is to print for. This will normally be 1 or 2 months so the printout that goes with the Overdue Letter is not too long, particularly if the account has been operating for a period of time. The purpose is to show enough information so the client can understand why they have gone into arrears. That should mean a decrease in the calls to the finance company enquiring why the client has been sent an arrears letter. |
Account Summary Comm Type | [F2] to select the Communication Type for Account Summaries. Selecting a Communication Type here will result in the Account Summaries being produced as Communications, enabling them to be emailed with the Overdue Letter (where Dispatch Centre is licensed). They can also be printed via the Communications Browse. Leaving this field blank will produce the Account Summary as a report view on the screen, where they can be printed. |
Letter Type | Two options – General and Repossession Warning. Most letters will be set to General. ‘Repossession Warning’ option should be used for the Repossession Warning Notice required by the CCCFA amendment legislation for Consumer Loans. |
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