Recording a bankruptcy

When a customer files for bankruptcy you can use the Manage Account page to record the bankruptcy information and review the affected bills and line items. All bills from before the bankruptcy date are granted an automatic stay, so Infor Operations and Regulations assigns them to a bankrupt status and removes them from normal processing.

  1. Select Billing > Manage Account.
  2. Load the account you want.
  3. On the Maintenance tab, under Delinquency, click Record Bankruptcy.
    The Record Bankruptcy link can also be displayed in the Quick Links panel on the Summary tab.
  4. Specify the date the customer filed the bankruptcy petition in the Bankruptcy Date field.
    The bankruptcy date determines which bills are included in the bankruptcy. All bills from before the bankruptcy date receive an automatic stay and are removed from normal processing. The customer is still responsible for bills from after the bankruptcy date.
  5. Click Next.
    The second bankruptcy screen shows the date of the bankruptcy petition, the total bankrupt amount, and a list of bills that are included in the bankruptcy (that is, bills from before the bankruptcy date). Depending on the pending states of their line items, some bills may disallow bankruptcy or show warnings. The disallowed line items and the ones that show warnings are defined in Pending States Setup. For example, Infor Operations and Regulations might show a warning when a line item that is currently in collections is moved to bankruptcy so the collection agency can be notified. You cannot save the bankruptcy record until all of the disallowed pending states are cleared. As you work through these line items, you can click the Reload button at the top of the Record Bankruptcy box to update the information in the Bills grid.
  6. Provide any other details about the bankruptcy.
    You can specify the date your agency was notified of the bankruptcy in the Notification Date field, or specify the date the court accepted the bankruptcy petition in the Acceptance Date field. You can also specify the bankruptcy number and a code for the type of bankruptcy.
  7. Click Save.
    Infor Operations and Regulations records the bankruptcy and marks the qualifying line items as bankrupt. Any line items that are currently in delinquency are resolved using the delinquency resolution code specified in Bankruptcy Setup. If a bankruptcy alert is defined in Bankruptcy Setup, Infor Operations and Regulations adds that alert to the account. After a bankruptcy is recorded, Infor Operations and Regulations replaces the Record Bankruptcy link with a Review Bankruptcy link, which you can use the manage the bankruptcy. The bankruptcy is also displayed in the Delinquency panel on the Summary tab. A record of all bankruptcies for an account is displayed in the Bankruptcy grid on the Delinquency tab.

    See Bankruptcy.