System-defined Ledger Types

Name

Description

Credit Group Type

Debit Group Type

Agency Fee

Fee an outside agency receives when your organization processes payments using the AIM program. The system credits Fee amounts to the debtor's balance and deducts them from investor profits.

Debtor

Investors

Bankruptcy

Putback for accounts returned to the seller because of debtor bankruptcy.

Investors

Sellers

Bankruptcy Buyback

Buyback for accounts the buyer returns because of debtor bankruptcy.

Buyers

Investors

Buyback

Buyback for accounts the buyer returns. 

Buyers

Investors

Client Request

Putback for accounts returned to the seller upon request.

Investors

Sellers

Client Request Buyback

Buyback for accounts the buyer returns upon request. 

Buyers

Investors

Credit Bureau Report

Cost for obtaining a credit bureau report for the account.

N/A

Investors

Deceased

Putback for deceased debtor accounts returned to the seller.

Investors

Sellers

Deceased Buyback

Buyback for deceased debtor accounts the buyer returns.

Buyers

Investors

Dispute

Account is in dispute.

N/A

N/A

Fraud

Putback for accounts returned to the seller because of fraud.

Investors

Sellers

Fraud Buyback

Accounts the buyer returned because of fraud. 

Buyers

Investors

Initial Purchase

Initial purchase amount. The calculation is the portfolio purchase rate times the total dollar amount of the accounts included (total balance).

Sellers

Investors

Investor Deposit

Investor monies.

N/A

N/A

Purchase Commission

Commission earned on the purchase when the contract terms specify a commission rate. The calculation is the purchase commission rate times the purchase amount.

N/A

Investors

Legal Costs

Monies expended because of legal action required on the account.

N/A

Investors

Media

Cost for requesting supporting documentation from the seller.

Sellers

Investors

Media After Sale

Cost for forwarding supporting documentation to the buyer.

Investors

Buyers

Order Media: Affidavits

Cost for requesting supporting affidavit copies from the seller.

Sellers

Investors

Order Media: Applications

Cost for requesting supporting debt application copies from the seller.

Sellers

Investors

Order Media: Other

Cost for requesting other supporting media copies from the seller.

Sellers

Investors

Other

Miscellaneous expenses charged to your portfolio investors.

Management

Investors

Paid Prior

Putback for accounts returned to the seller because of a prior payment on the account.

Investors

Sellers

Paid Prior Buyback

Account that the buyer returned because of a prior payment on the account.

Buyers

Investors

Payment After Sale

Payment received when your organization processes a payment in Latitude for accounts in a sold portfolio. This amount is in addition to the "Received Payment" amount. 

Buyers

Investors

Payment Commission

Commission earned for a payment that your organization processed in Latitude for accounts from a purchased portfolio. The commission is based on the rate specified in the contract terms.

The system reduces the payment commissions withheld from accounts forwarded using AIM by the percentage that the forwarded agency withheld.

Management

Investors

Purchase Commission

Commission earned on the portfolio purchase based on the rate specified in the contract terms. The calculation is the purchase commission rate times the purchase amount.

Management

Investors

Putback

Account returned to the seller.

Investors

Sellers

Received Payment

Payment received when your organization processes a payment in Latitude or AIM for accounts from a purchased portfolio

Investors

Debtor

Received Reversal

Payment reversal received when your organization processes a reversal in Latitude or AIM for accounts from a purchased portfolio.

Debtor

Investors

Recourse

Account returned to the seller.

Investors

Sellers

Reversal After Sale

Payment reversal received when your organization processes a reversal in Latitude or AIM for accounts from a sold portfolio.

Investors

Buyers

Reversal Commission

Commission reversal received when your organization processes a reversal in Latitude for accounts from a purchased portfolio.

The system reverses the commission when the contract terms specify a payment commission and your organization charged the investor a commission on the payment.

Investors

Management

Sale Commission

Commission earned on the portfolio sale based on the rate specified in the contract terms. The calculation is the sales commission rate times the total account balance dollar amount.

Management

Investors

Sales

Sales amount. The calculation is the sales rate times the total account balance dollar amount.

Investors

Buyers

Skip Trace

Cost for obtaining skip trace information for the account.

N/A

Investors