Deal Pack’s dealer management software provides the ability to record your customer’s bankruptcy information, track those customers who have filed bankruptcy and adjust their loan in accordance to court documents.

Start by pulling up your customer and utilizing File Maintenance (FM) at the Customer, Collections or Payment screens. Select the Bankruptcy tab and enter Y in the “Bankruptcy Filed” field. This step produces a pop up message and banner when the customer’s account is viewed indicating bankruptcy has been filed. It also adds the customer to the “Bankruptcy Filed” report which is located in the Reports II section. Enter any other applicable data in the remaining fields of File Maintenance as desired.

Typically after receiving documentation that your customer is involved in bankruptcy proceedings you would refrain from placing collection calls to them. Pull the customer up in the Collections section and select Y at the Call Prohibited field to remove them from collection queues. A Call Prohibited report exists in the Collections section under the Report tab which provides a list of all customers flagged with Y at Call Prohibited.

Once the terms of the bankruptcy has been established through the court, the customer’s loan can be adjusted accordingly in Deal Pack. The loan balance can be reduced at the Payment screen by using No Pay to write off the difference. The loan can then be refinanced to adjust the APR, payment amount and other applicable terms. Please feel free to contact any one of the knowledgeable Deal Pack support team members to discuss any questions or concerns regarding a bankruptcy account.