Steps That Needs Taken When a Bankruptcy is Dismissed

Steps That Needs Taken When a Bankruptcy is Dismissed

You want to know what steps you need to take when a bankruptcy is dismissed.

Workaround:

  1. Go to the Collections-Bankruptcy- Edit Bankruptcy screen,  Or you can select Customer Service-Other-Bankruptcy.
  2. Select the Details tab.
  3. Select the Payment Status drop down.
  4. Indicate that the bankruptcy is dismissed.
If an escrow analysis was run as part of the POC (Proof Of Claim):
  1. Go to the POC (Proof Of Claim) screen.
  2. Click on the Payment Change button. This will display the escrow constants for each payment change record.
  3. Use this information to set the escrow records back to the amounts prior to the POC escrow analysis.
    1. Click on the Payment button.
    2. Go to the Customer Service module.
    3. Select Pmt Chg.
When all activities regarding the dismissed bankruptcy are complete:
  1. Go to the Collections-Edit Bankruptcy screen.
  2. Select the Details tab.
  3. Enter a Case Closed Date.
This will close out the bankruptcy and return the loan to a non-bankruptcy status.

ArticleNumber:

000069509