Navigation:  Loan Screens > Account Information Screen Group > Actions, Holds and Event Letters Screen > Charge Off Information field group > Date

Entry: System, date

F/M: No

Mnemonic: LNCODT

Screen: Loans > Account Information > Actions, Holds and Event Letters screen

 

This field contains the date this loan was charged off. The charge-off date is used by both credit reporting and some regulatory reports. If a charge-off date has not been entered, those reports cannot determine when the charge-off occurred and when to report the charge-off.

 

When a loan is charged off, the general category should be changed.

 

If you attempt to enter either a hold code 1, 2, 6, 92, or 93 or a general category of 80-89, the system will require that a charge-off date be entered before allowing file maintenance.

 

The charge-off date can be entered or changed one of two ways:

 

1.You can file maintain the date on the Loans > Account Information > Additional Loan Fields screen, Valuation/Billing tab.

 

2.The date will automatically be entered when you run any of the following transactions:

 

•Automatic Charge-off (tran code 022-01)