One borrower files bankruptcy Chapter 7 while second borrower files Chapter 13 during same reporting period

Bankruptcy

One borrower files bankruptcy Chapter 7 while second borrower files Chapter 13 during same reporting period

Credit Bureau Extract Metro 2 Format users.

The following table describes events, user processes, and LeasePak reporting specific to this bankruptcy scenario. Refer to the Bankruptcy overview for instructions on managing accounts and clients in bankruptcy.

Event	LeasePak User Process	Result
Client 7 on the account files bankruptcy Chapter 7 and Client 13 files Chapter 13, both during the same reporting period; others do not file any Chapter of bankruptcy.	For Client 7, set chapter 'Chapter 7' and stage 'Petitioned'. For Client 13, set chapter 'Chapter 13' and stage 'Petitioned'.	LP will report CII as A for Client 7. LP will report CII as D for Client 13, then freeze values for Account Status and Amount Past Due, set DOFD to filing date (if (blank) or (NULL)) and freeze, and begin reporting PHP as D. For clients other than 7 or 13 on account who are not in bankruptcy (CII not A, B, C, D, or 1A), LP will report those clients as terminated from the account with ECOA set to T. CII values of R, T, U, V, and Z are not supported.
Any client has their plan confirmed.	Select/check "Plan confirmed".	LP will report Amount Past Due as 0. Frozen values will remain frozen. If the User has adjusted any values to conform to the plan, only those values other than Amount Past Due or those frozen will be reported as adjusted.
Client 7 has bankruptcy discharged; Client 13 does not.	Set stage 'Discharged' for Client 7.	LP will report E and Amount Past Due as 0 for Client 7, then cease reporting Client 7 on affected account(s).
Client 13 has bankruptcy discharged; Client 7 does not.	Set stage 'Discharged' for Client 13.	LP will report H and Amount Past Due as 0 for Client 13, then cease reporting Client 13 on affected account(s). Once Client 13 is discharged, LP will, for the current reporting month, restore non-bankruptcy clients to account with ECOA set to 1, 2, 5, or W. For the next reporting month, LP will cease reporting PHP as D. Values will remain frozen.
Client 7 has bankruptcy dismissed or withdrawn; Client 13 does not.	Set stage 'Dismissed' or 'Withdrawn' for Client 7.	LP will report dismissal (I, J, or K) or withdrawal (M, N, or O) for Client 7, then report Client 7 as terminated from the account with ECOA set to T.
Client 13 has bankruptcy dismissed or withdrawn; Client 7 does not.	Set stage 'Dismissed' or 'Withdrawn' for Client 13.	LP will report dismissal (L) or withdrawal (P) for Client 13. LP will restore non-bankruptcy clients to account with ECOA set to 1, 2, 5, or W, then LP will unfreeze Account Status, Amount Past Due and cease reporting PHP as D.