One borrower files bankruptcy Chapter 12 or 13, others do not

Bankruptcy

One borrower files bankruptcy Chapter 12 or 13, others do not

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
One client on the account files bankruptcy Chapter 12 or 13; others do not.	Set chapter 'Chapter 12' or 'Chapter 13' and stage 'Petitioned' for affected client.	LP will report CII as C or D, 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 other clients 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.
The 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 has bankruptcy discharged.	Set stage 'Discharged' for affected client.	LP will report G or H and Amount Past Due as 0 for that client, then cease reporting that client on affected account(s). Once client 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Client has bankruptcy dismissed or withdrawn.	Set stage 'Dismissed' or 'Withdrawn' for affected client.	LP will report dismissal (K or L) or withdrawal (O or P) for that client. 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 DOFD and cease reporting PHP as D. Reporting will resume as normal.