Overview

The Collection process is the platform’s recovery workflow for overdue loans. When a loan misses a payment and crosses into Overdue status, the platform automatically opens a collection case and assigns contact tasks to the Collection Manager. The manager calls the borrower, records the result of every conversation, and either secures a payment, schedules the next reminder, or — if recovery is no longer feasible — escalates the loan to a Credit Officer for write-off.

The process keeps running for as long as the debt remains outstanding. It only ends when one of three things happens:

• The borrower repays the debt, and the loan returns to a healthy state.
• The Credit Officer writes off the loan.
• The loan is written off through some other workflow outside of collection.

Whether a loan enters the Collection process at all and how long the platform waits before starting it are determined by the product group under which the loan was issued.