Business Processes
Temporary Suspension of Credit Bureau Reporting
Credit Bureau Extract Metro 2 Format users.
When the User needs to temporarily stop reporting an account to the credit bureaus.
LeasePak Updates/Processes
- U0239 Credit Bureau Lease/API
- U0722 Custom Code
- U0462 Credit Bureau Extract
- Utility 223 Metro 2 Export File
Relevant LeasePak Interface Fields
- U0239 Credit Bureau Lease/API
- "Stop Credit Bureau Reporting"
- "Reason to Stop Reporting"
- "Payment History Profile"
- U0722 Custom Code
- "Code Category"
- "Code Value"
- "Code Description"
| Metro 2 Impacted Fields | Relevant Code Values |
|---|---|
| Payment History Profile – LP will record D while reporting is stopped | D – No payment history available this month |
Process Overview
When User sets "Stop Credit Bureau Reporting" to 'Y' (selects/checks the box) in U0239 Credit Bureau Lease/API, U0462 Credit Bureau Extract will set current month PHP tick to D while reporting is stopped and flag the account for Utility 223 Metro 2 Export File to write the Metro 2 data to an exclusion file. This will continue until the User resumes reporting for the account by setting "Stop Credit Bureau Reporting" to 'N'.
LeasePak User Process
Use U0722 Custom Code to create reason codes for stopping credit bureau reporting. Use "Code Category" 'STOP.CB.RP'. For example:
- "Code Value" 'VCHK', "Code Description" 'Verify payment check'
Use interactive U0239 Credit Bureau Extract or third-party interface via API to suspend or resume credit bureau reporting.
To suspend reporting:
- Set "Stop Credit Bureau Reporting" to 'Y'
- Set "Reason to Stop Reporting" to appropriate reason (for example, 'VCHK')
To resume reporting:
- Set "Stop Credit Bureau Reporting" to 'N'
- Adjust "Payment History Profile" if needed for prior months set to D while reporting was suspended
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.