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U0103 Payoff Method »
U0101 Remove Lease Method »
Report as Deleted Method »
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Contract Cancellation
Report as Deleted Method
Credit Bureau Extract Metro 2 Format users.
When the User needs to report an account as deleted without paying it off or removing it from the system.
LeasePak Updates/Processes
- U0239 Credit Bureau Lease/API
Relevant LeasePak Interface Fields
- U0239 Credit Bureau Lease/API
- "Report as Deleted"
| Metro 2 Impacted Fields | Relevant Code Values |
|---|---|
| Account Status – User must indicate reason corresponding to DA or DF in U0239 Credit Bureau Lease "Report as Deleted"; LP will report once, then cease reporting |
DA – Delete entire account (for reasons other than fraud) DF – Delete entire account due to confirmed fraud (fraud investigation completed) |
| Date Closed – LP will report Date Closed once with Account Status of DA or DF, then cease reporting | N/A |
Process Overview
When the User sets "Report as Deleted" to DA or DF through U0239 Credit Bureau Lease, LP will record Account Status as DA or DF and the date when U0462 runs during EOM as the Date Closed. U0462 Credit Bureau Extract will report once, then cease reporting (stop creating RXL/RXC records for the account).
When LP populates the Date Closed, the Account Status will indicate that the lease was deleted, and it will not report the closed lease again as it otherwise would have for three consecutive months.
LeasePak User Process
To report a lease as deleted, use U0239 field "Report as Deleted" to set one of the following:
- DA DELETE ACCT - NO FRA
- DF DELETE ACCT - FRAUD
Setting this field does not make the lease inactive or remove it from the database or LP processing. Use U0101 Remove Lease or U0103 Payoff to remove or payoff a lease. Exercise caution when maintaining a lease on the system that has been reported to the credit bureaus as deleted.
Once a lease has been reported to the credit bureaus with Account Status set to DA or DF, you will not be able to change this status or reuse the lease number.
Business Processes |
Appendix
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The information contained in this document is the sole property of NETSOL Technologies, Inc. Use of the information contained herein is restricted. Conditions of use are subject to change without notice. NETSOL Technologies, Inc. assumes no liability for any inaccuracy that may appear in this document nor does it have the obligation to update any of the information contained herein; the contents of this document do not constitute a promise or warranty. The software described in this document is furnished under license and may be used or copied only in accordance with the terms of said license. Unauthorized use, alteration, or reproduction of this document without the written consent of NETSOL Technologies, Inc. is prohibited.