Loan Charge Off Automation

The Loan Charge Off Automation application automates the loan charge off process by processing the charge off on eligible accounts.

Benefits

The Loan Charge Off Automation, application automates the loan charge off process for financial institutions by processing the charge off transaction on eligible accounts. Prior to charge off the application locates right of offset funds, waives non capitalized late charges, and rebates collateral protection financed insurance. After the charge off is completed the application changes the account status, assigns account lockout flags and person and organization warning flags and sets the account mail type to hold all mail.