In the last couple years, the credit bureaus enacted strict policies on the types of accounts that can be reported.They have also set more rigorous requirements for the data required for each account. One of the requirements that a large number of our customers come in conflict with is that all accounts reported to the bureau must have a Date of Delinquency (DOD). The most frequent scenario is that the client does not have a DOD or they did not send that information along with the other account data. Because of the DOD requirement, the DAKCS system will block all accounts without a DOD from reporting by setting the credit flag to an 'E' (Excluded) and writing the reason to the account history - NO DATE OF DELINQUENCY.
If you find yourself in this scenario, DAKCS has a solution.
DAKCS added the ability to generate a DOD relative to the Date of Service, DOS, or the Date of Referral, DOR. This feature can be enabled by contacting support. Once the feature has been enabled,some setup is required.
The fields that control this feature are configured on a client-by-client basis. They can be found in SYSTEM ADMINISTRATION > MAINTAIN CLIENTS > ADD/EDIT/DELETE CLIENTS. Once you have pulled up a client, open the CB SETUP tab and you will see the following
The two fields that manipulate the DOD are Default Delinquency Type and Default Delinquency Days. If the feature is enabled and both of these fields are left blank, the default behavior would be when any account enters the system or when any account attempts to report, if there is no DOD, the system will write the DOS as the DOD.
The Default Delinquency Type field has two options to choose from: R - Date of Referral and S - Date of service. The Default Delinquency Days field takes a numeric value.
When using these settings, the system takes the DOS or the DOR and adds or subtracts the amount of delinquency days from that date. The idea is that you can not be delinquent before ever having a service provided and you must be delinquent before being referred to collections. An example would be if we input R and 30, the system would take an account with no DOD, get the DOR and subtract 30 days to get a DOD. If we input S and 45, the system would get the DOS and add 45 days to get a DOD.
Since this is configured on the client level, you will need to use the same setup for many clients A quick way to do this is through Advanced inquiry. You would qualify the necessary clients and run a field update to set the values to the qualified clients at once.