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Arrangements

Use the Arrangements panel to create proposed payment arrangements and convert them to scheduled arrangements for the account and any selected joined accounts. Parties only need one arrangement to cover their total liability (their joint accounts plus any individual accounts with the same client) regardless of the number of accounts. Any party on a joint account can arrange to pay the joint balance in full. The system reflects payments applied to a joined account on the balance of the linked parties' total liability.

Joined accounts

You can pursue each party on a joined account individually as all parties are responsible for the debt. The parties appear in dialing campaigns, letter campaigns, and work queues as if they had separate debts. For example, party A has joint responsibility for a debt and has an individual account. When you contact party B about the joint account, the system doesn't include the individual account for party A as part of the balance that party B owes.

A party on a joint account can offer payment to cover the liability for all parties on the account. You remove the other parties' liability to pay (but not their responsibility). If one party claims liability, you cannot contact the other parties for payment unless the primary party defaults on the arrangement. For example, if party A takes sole liability for the joint account with party B, you cannot contact party B about the joint account. You can, however, contact party B about other individual accounts that belong to party B. If party A's arrangement fails, you reinstate liability and pursue party B. Don't apply payments to the joint account that you receive from a party relieved of their joint liability unless:

The party relieved of liability doesn't have a sole liability account to apply the payment.
The party solely responsible for the joint account specifically requests that you apply the payment to the joint account.
The party relieved of liability requests that you reinstate the liability.

You can create a single arrangement to cover the joint account and any individual accounts a party owns. The system splits the payments across the joint and individual debts as follows:

If no parties on the joint account assume sole liability, each party's contribution to the joint account (from their individual arrangement) reduces the joint liability. For example, party A arranges to pay $100 per month and the system allocates $20 of that amount to the joint account. Party B arranges to pay $50 per month and the system allocates $10 of that amount to the joint account. The balance on the joint account decreases by $30.
If a party on the joint account assumes sole liability, the other parties' arrangement covers their individual accounts only unless one of the other parties indicates otherwise. For example, party A assumes liability and arranges to pay $100 per month. The system allocates $20 of that amount to the joint account. Party B arranges to pay $50 per month and the system allocates nothing to the joint account except at the request of party B.

SIF arrangements

Custodian determines whether a customer fulfilled a Settled in Full (SIF) arrangement when the SIF arrangement doesn't use a credit card or ACH payment method. If the customer fulfilled the SIF arrangement, Custodian changes the account status to SIF and closes the account.

Arrangements

Joined accounts

SIF arrangements

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