Third party Demands/RTP
When we receive one of these, we freeze the account for 1 year and all credit balances go to the CRA to satisfy this demand (it even takes priority over loan payments to Vancity)
What is an enhanced requirement to pay "ERTP"
On an initial unsecured loan delinquency, if contact is attempted but unsuccessful and delinquency is 45d+ you will send me in addition to the appropriate letter?
What is a secured email?
You are considering a write off approval for a youth membership. What document do you need to review before determining the next step?
What is the membership agreement?
What is a BNI Score (BNI = Bankruptcy Navigator Index)
The Act that governs all bankruptcies and proposals that takes place in Canada
What is the Bankruptcy and Insolvencies Act "BIA"?
When a branch receives a Court Order, we ask them to send it to us by this method.
What is a third party demand service request?
What is the letter printing upload cut off time to ensure printing and pick up for the external mail?
You use me as the write off code when a loan is joint, one party has filed bankruptcy, and the other party did not pay on the loan?
SPI DNP
I reflect payment history on lending products and is used by Vancity to establish credit worthiness
What is a FICO score?
A person who holds a mortgage or a lien against the debtor's property or personal property
What is a secured creditor?
This type of order freezes bank accounts for 5-years and can include joint accounts.
What is a Family Maintenance Enforcement Order?
For an unsecured loan 60d+ delinquent with a loan balance of less than $7500 what are the first two steps in the workflow?
What is Review T24 Usage for trends and pull a manual credit bureau (not from T24)
Who processes fraud and security write offs?
What is Fraud and Security?
I have strong positive net worth, regular payroll deposit, I revolve my credit facilities regularly and have a good credit score and I am responsive to contacts. I am this risk category.
What is low risk?
Situation when a debtor is behind 3 installment payments under a Consumer Proposal
When is a Consumer Proposal deemed to be annulled?
When a Spec 3 (or AM) receives notice of this document, they review the account for other defaults and contact the business account manager and a risk assessment is performed.
What is a third-party demand?
I am the initial type of letter that is used when delinquency is assessed to not be due to an oversight but is low/medium or the risk characteristics identified are believed to be fixable.
What is a default letter
What is PL54203?
They are ineligible for certain types of lending and present a high risk of loss to Vancity because enforcement efforts are difficult.
What is a non-BC resident?
30 days
What is the deadline to revive an annulled Consumer Proposal without a Court Order?
Provisions regarding Vancity's rights to charge fees for responding to any legal notice, seizure, demand or court process that affects the account can be found here:
What is the Personal Account and Services Guide?
at what decision point stage in the workflow must I assign myself ownership of the loan and collection in CRM?
What is when a demand letter is issued?
When writing up a write off approval or recommendation, to avoid confusion and problems in preparation and processing what do I need to be in my write up?
What is be specific and clear?
I am one of the most influential indicators of increasing risk and changes in credit bureau score (for revolving credit)
What is credit Utilization?
Alternative option to file a proposal for corporations or individual debtors with debts more than $250,000
What is a Division I proposal?