Date Relative Payment Allocations

Set an automatic payment allocation change on the date of a certain event like Judgment.   

 To set the Date Relative Payment Allocations for New Accounts

From the main screen of CollectMax,

Select the button.  Find the client from the find by list that will be changed to have date relative payment allocations.   

From the client's account, select the   tab to display the Debtor Pre-Sets screen.

Click the button to display the new Debtor Payment Allocations Screen.

Click the box next to Enable in the Date Relative Payment Allocations section.

Click the button to display the Date Relative Payment Allocation Screen.

Select the Date of Change from the drop down list by clicking the button and selecting from the list.  

Select the number of days after the date selected to start the new allocations.

Enter the Payment Allocation order, either Sequential or Prorated.  This will be the order in which the debtors payments will be applied at the time the payment is posted.   

• Sequential:  The payment will be applied to each balance segment in an incremental order and each balance segment must be paid to zero before paying the next segment.  The first balance segment to be paid should be set at 1, the second should be set at 2 and so on until all segments are set.

• Prorated:  The payment will be divided into equal portions and posted to all segments with a balance.

Finally, click the button to save this setting.

 To Change the Payment Allocations on Existing Accounts:

From the main screen of CollectMax,

Select the button and find the debtor account to be changed from the debtor find screen.  

From the debtor account, click on the tab or click the button.

From the tab, click the button to display the Claim Settings Screen, or from any screen click the button and select from the menu to display the Claim Settings Screen.

Click the button.

Click the box next to Enable in the Date Relative Payment Allocations section.

Click the button to display the Date Relative Payment Allocation Section.

Select the Date of Change from the drop down list by clicking the button and selecting from the list.  

Select the number of days after the selected date to start the new allocations.

Select the Payment Allocation order, either Sequential or Prorated.  This will be the order in which the debtors payments will be applied at the time the payment is posted.   

• Sequential:  The payment will be applied to the balance segment in an incremental order and each balance segment must be complete paid to begin paying the next segment.  The first balance segment to be paid should be set at 1, the second should be set at 2 and so on until all segments are set.

• Prorated:  The payment will be divided into equal portions and posted to all segments with a balance.

Click the button to save.