When a case in Oracle Lease and Finance Management reaches a certain stage of delinquency, you may decide to report the customer to a credit bureau. The procedure of reporting to a credit bureau generally consists of two stages:
Notification: To allow for legal requirements in some countries, you may notify the customer of your intention to report the customer to a credit bureau. Generally, when you notify the customer, you specify a grace period of several days.
Reporting: At the end of the grace period, if no further progress has been made on clearing the delinquency, you make the data available to a credit bureau.
You can use three ways to implement the complete Report to Credit Bureau procedure:
Strategy method: The notification and reporting stages are incorporated in the strategy that is associated with the case.
Manual method: You manually perform the two operations of notification and reporting.
Universal report method: You report all contracts, regardless of delinquency, with no pre-notification.
The Strategy method is largely automatic; you must set up a strategy that incorporates two work items, one that triggers the notification stage, and one that triggers the reporting stage.
The Manual method requires you log in to a Collections window and trigger the stages of notification and reporting from there.
To trigger the Universal report method, you must schedule a specific concurrent program that reports all the contracts.
To complete all the methods, you must run a number of background concurrent programs. Generally, you group your concurrent program requests into request sets, and schedule them to run daily; you may alter the scheduling and timing to suit the requirements of your organization.
The Collections Leasing Agent and Collections Leasing Administrator responsibilities are added in Oracle Advanced Collections, which are used to manage and use the Report to Credit Bureau functionality from Oracle Lease and Finance Management.