Navigation:  Credit Reporting  > Credit Reporting Screen > Credit Reporting & Loan Information tab > Original Charge Off

Entry: User, numeric

F/M: Yes

Mnemonic: BUOGCO

Screen: Loans > Credit Reporting > Credit Reporting & Loan Information tab

 

The original charge-off amount is updated by the system at monthend. If a hold code 2 (charge off) is present in either of the Hold Code fields and there is a valid charge-off date in the Charge Off Date field (LNCODT), the system will put the amount of the Partial Charge-Offs field (LNCOBL) in this field. File maintenance to this field writes to loan history.

 

The charge-off date must be entered once a foreclosure, repossession, or charge off occurs. (See Coding of Derogatory Credit Status.)