Suspending Overdue Letter Processing for an Account

Suspending Overdue Letter Processing for an Account

Purpose

Overdue Letter Processing may be suspended for individual accounts if it is no longer in the interest of the finance company to do so. An example would be if a client was confirmed as gone no address or has advised they are unable to pay the loan amounts due.

Timing

Account Overdue Letters may be suspended anytime, normally as part of the regular arrears processing

Access

  1. From within the lending  to Edit Account Letter Details screen
  2. Review and Create Overdue Letters Account Letter Browse screen  button
  3. Accounts | Edit/View Overdue Letters

Process

Letter Indicator

Automatic Letter Processing can be stopped by changing the Letter indicator from Normal to Suspend or Arrangement. 

Suspend and Arrangement have the same effect on the account in terms of stopping the letter processing.  They provide for 2 groups of suspended letters.  

For example:        
  1. One group may be for accounts for which particular arrangements have been made to get the account up to date and therefore letter processing is on hold       
  2. The other may be for known arrears situations such as bankrupts or deceased clients where the Letter Processing is stopped and will not be re-initiated

Manually changing or resetting the Letter Indicator

An account can have its automatic letter generation put on hold by having the Letter indicator set to Suspend or Arrangement.

If the Account Letter Processing is to be reset to be included in the automatic Letter Processing the Letter indicator should be set back to Normal.

Automatically changing the Letter Indicator

The Letter indicator may be automatically set to ‘Arrangement’ by an Overdue Letter.

This is done by setting up the letter with the Set Letter Indicator set to Arrangement.  This will cause the account to be automatically put on ‘Arrangement’ after this letter has been created.


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