Close Code – Stop collection Activity (permanently or temporarily)






































 

Description will be displayed on First Detail Screen and/or appear on your reports UNLESS a Secondary Close Code is used.

• Short Description will be seen when you do a search  Close Codes.
• Remove from placement is ONLY used IF you also use Remove from Placement.
• Inactive Balance will make the account balance zero.
• Active for Statistics will affect your statistics. (50% versus 100% recovery rate)
• Collector Credit, do you want to give the collector credit if a payment comes in while the account is closed?
• Give collector credit ONLY if there is a linked account