Navigation:  Teller System > Transactions > Loan Transactions > Loan Transaction Codes > Tran Code 2600-30, Garnishment Transaction

This transaction is similar to a Mail-in transaction (tran code 2600-04); however, this transaction will update the Special Comments Code (Base Field 19) in the Credit Report transmission (FPSRP184) sent to credit bureaus at monthend.

 

This transaction can be run by cash or check. If this transaction is run on an account, at monthend the system sets the Special Comments Code to "AM" (Account payments Assured by Wage Garnishment). After monthend is run, the Special Comments Code is cleared, unless another garnishment payment is made.

 

Note: If Hold Code 4 (Bankruptcy Chapter 7, 11 or 12) or 5 (Chapter 13) are on accounts, the Garnishment transaction cannot be run.

 

The following is an example of this transaction:

 

 

For more information about the Special Comments code, see the Special Comments Code field on the Loans > Credit Reporting screen.