ABCDEFGHIJKLMNOPQRSTUVWXYZ

Case Management A case management system enables assigning of attorneys, creating caseload queues and tracking key pieces of information related to the case. The CollectOne software suite comes standard with an award winning legal system that is designed to maximize productivity throughout the legal collection process. Learn More... Chapter 11 Bankruptcy A Chapter 11 Bankruptcy is a Chapter of the Bankruptcy Code that is usually used for the reorganization of a financially troubled business as an alternative to liquidation under Chapter 7. The U.S. Supreme Court has held that an individual may also file for a Chapter 11 Bankruptcy. Find out how the CollectOne software suite can help your organization track bankruptcies on delinquent accounts. Learn More... Chapter 13 Bankruptcy A Chapter 13 Bankruptcy is a Chapter of the Bankruptcy Code in which debtors repay debts according to a plan accepted by the debtor, the creditors and the court. Plan payments usually come from the debtor's future income and are paid to creditors through the court system and the bankruptcy trustee. Find out how the CollectOne software suite can help your organization track bankruptcies on delinquent accounts. Learn More... Chapter 7 Bankruptcy A Chapter 7 Bankruptcy is Chapter of the Bankruptcy Code that provides for court administered liquidation of the assets of a financially troubled individual or business. Find out how the CollectOne software suite can help your organization track bankruptcies on delinquent accounts. Learn More... Charge Off The action of transferring accounts deemed uncollectible to a category such as bad debt or loss. Collectors will usually continue to solicit payments, but the accounts are no longer considered part of a company's receivable or profit picture. Find out how the award winning, CollectOne software suite can help your organization maximize collection results. Learn More... Co-Maker A creditworthy co-maker is sometimes required in situations where an applicant's qualifications are marginal. A co-maker is legally responsible to repay the charges in the joint account agreement. Manage the entire life-cycle of your credit accounts with the award winning CollectOne software suite. Learn More... Co-Signer A co-signer is an individual(s) who pledges in writing, as part of a credit contract, to repay the debt if the primary borrower fails to do so. The account may display on both the borrower's and the co-signer's credit reports. Manage the entire life-cycle of your credit accounts with the award winning CollectOne software suite. Learn More... Collection Agency A collection agency is an organization that collects delinquent debt that it has purchased and/or has been assigned by the credit grantor. Collection agencies may collect on a contingency basis or may actually purchase the debt from the credit grantor. Find out how the award winning, CollectOne software suite can help your organization maximize collection results. Learn More... Collection Attorney A collection attorney is an attorney who specializes in delinquent accounts that have moved to a legal status. Collection attorneys generally are part of a collections law firm that acts on behalf of a credit grantor on a contingency basis or, in some cases, has purchased the debt. The CollectOne software suite comes standard with an award winning legal system that is designed to maximize productivity throughout the legal collection process. Learn More... Collection Productivity Reports Collection productivity reports are reports that are both standard and user-defined. They allow management to review key elements of the organization and make decisions based on all the pertinent information. Productivity, trends and projections can all be determined through the use of collection productivity reports. The CollectOne software suite comes standard with a broad library of productivity reports and an optional customizable report writer that enables you to generate reports from any set of data. Learn More... Collection Screen The collection screen is the primary source of information for the account representative or collector. Most of the key information required during a collection call is available on the collection screen, allowing the representative to work efficiently through the call. Find out how the award winning, CollectOne software suite can increase your collectors’ productivity with its industry first user-defined collection screens. Learn More... Collection Workflow A defined series of tasks within the collection lifecycle. A sophisticated application like CollectOne allows management to define different workflows for different types of accounts. At each stage in the workflow, one collector or a group of collectors may be responsible for a specific task. Once the task is complete, CollectOne ensures that the individual(s) responsible for the next task are notified and receive the data needed to execute the next stage of the collection process. Find out how the award winning, CollectOne software suite can help your organization maximize your collection results. Learn More... Compound Interest Compound interest refers to the fact that whenever interest is calculated, it is based not only on the original principal, but also on any unpaid interest that has been added to the principal. The more frequent interest is compounded, the faster the balance grows. Interest rates must be comparable in order to be useful, and in order to be comparable, the interest rate and the compounding frequency must be disclosed. Since most people think of rates as a yearly percentage, many governments require financial institutions to disclose a (notionally) comparable yearly interest rate on deposits or advances. Compound interest rates may be referred to as Annual Percentage Rate, Effective interest rate, Effective Annual Rate, and by other terms. When a fee is charged up front to obtain a loan, APR usually counts that cost as well as the compound interest in converting to the equivalent rate. These government requirements enable consumers to compare the actual cost of borrowing. Compound interest rates may be converted to allow for comparison: for any given interest rate and compounding frequency, an "equivalent" rate for a different compounding frequency exists. Compound interest may be contrasted with simple interest, where interest is not added to the principal (there is no compounding). Compound interest predominates in finance and economics, and simple interest is used infrequently (although certain financial products may contain elements of simple interest). The effect of compounding depends on the frequency with which interest is compounded and the periodic interest rate which is applied. Therefore, in order to define accurately the amount to be paid under a legal contract with interest, the frequency of compounding (yearly, half-yearly, quarterly, monthly, daily, etc.) and the interest rate must be specified. Compound interest can be managed as part of the receivables life-cycle using the CollectOne software suite. Learn More... Consumer Credit Protection Act (CCPA) The Consumer Credit Protection Act is landmark legislation which requires creditors to state the cost of borrowing in a common language, so that consumers can readily understand exactly what the charges will be, compare costs, and shop around for more favorable terms.  Consumer Leasing Act (CLA) The purpose of this title is to assure a meaningful disclosure of the terms of leases of personal property so as to enable the lessee to compare more readily the various lease terms with credit terms where appropriate, and to assure meaningful and accurate disclosures of lease terms in advertisements. Consumer Leasing Act (CLA) The purpose of this title is to assure a meaningful disclosure of the terms of leases of personal property so as to enable the lessee to compare more readily the various lease terms with credit terms where appropriate, and to assure meaningful and accurate disclosures of lease terms in advertisements. Contingency Collections The collection of credit accounts by a third party collection agency on a contingency, or commission, basis. The accounts are assigned from the credit grantor on a contracted basis. The third party collection agency does not pay for the accounts and is compensated on a percentage of the amount collected.  Find out how the award winning, CollectOne software suite can help your organization maximize collection results. Contingency Collections The collection of credit accounts by a third party collection agency on a contingency, or commission, basis. The accounts are assigned from the credit grantor on a contracted basis. The third party collection agency does not pay for the accounts and is compensated on a percentage of the amount collected.  Find out how the award winning, CollectOne software suite can help your organization maximize collection results. Court Docket The court docket provides a complete view of the attorney’s calendar and workload and prepares the necessary court documents. The CollectOne software suite comes standard with an award winning legal system that is designed to maximize productivity throughout the legal collection process. Learn More... Credit Grantor A credit grantor is the organization that grants the line of credit to an individual. Commonly known as the creditor, the credit grantor offers a product or service on credit and will generally manage the life-cycle of the debt until it is amortized. Should the account become delinquent, the credit grantor may choose to sell the account to a debt buyer or assign the account to a contingency collection agency. Find out how the award winning, CollectOne software suite can help your organization efficiently manage the credit account life-cycle. Learn More... Credit Rating Agency (CRA) A credit rating agency (CRA) is a company that assigns credit ratings for issuers of certain types of debt obligations. In most cases, these issuers are companies, cities, non-profit organizations, or national governments issuing debt-like securities that can be traded on a secondary market. A credit rating measures credit worthiness, the ability to pay back a loan, and affects the interest rate applied to loans. A company that issues credit scores for individual credit-worthiness is generally called a credit bureau or consumer credit reporting agency. Interest rates are not the same for everyone, but instead are based on risk-based pricing, a form of price discrimination based on the different expected costs of different borrowers, as set out in their credit rating. There exist more than 100 rating agencies worldwide (Experian, Equifax and Trans Union). The CollectOne software suite is fully integrated with the major credit rating agencies, giving organizations a platform to manage the entire credit account life-cycle. Learn More... Credit Repair Organizations Act (CROA) A federal law that provides consumer protections from fraudulent or disreputable credit repair services as part of the Consumer Credit Protection Act. Credit Report Confidential report on a consumer's payment habits as reported by his creditors to a consumer credit reporting agency. The agency provides the information to credit grantors who have a permissible purpose under the law to review the report. The CollectOne software suite is fully integrated with the major credit rating agencies, giving organizations a platform to manage the entire credit account life-cycle. Learn More... Credit Reporting Creditor grantors and collection agencies will report the payment history and account standing directly to the major credit rating agencies. The CollectOne software suite is fully integrated with the major credit rating agencies, giving organizations a platform to manage the entire credit account life-cycle. Learn More... CRM (Client Relationship Management) CRM entails all aspects of interaction an organization has with its client. CRM entails all interaction an organization has with its client, whether it is sales or service related.