The Dock platform processes billing routines and enables mechanisms so that the issuer manages billing at their convenience, whether internally or through expert consulting.
The issuer can determine the number of days for customer default. A customer will be considered defaulting if they don’t pay the statement or pay any amount lower than the minimum payment. The issuer can also apply billing procedures for rotating credit interests per day overdue on the unsettled balance that is due, penalty and default interests.
The customers are labeled as Creliq when they go through 60 days overdue. At this point, the account status is changed to Creliq, the entire amount due (for instance, purchases in installments with interests) is carried to the current amount, and interests stop incurring (considering 59 days overdue). Also, there is balance movement in the accounting accounts, carrying amounts to the Creliq balance.
Get to know more about balance modes on About accounting reports.
When a customer is in this situation, they can make a deal and renegotiate their debt with their issuer.
Customers are ranked as Loss when they go through 360 days overdue. At this point, the account status changes to Loss, and an accounting movement occurs according the Central Bank requirements, where balances are written off from the active wallet and registered in compensation accounts.
When a customer is in this situation, they can renegotiate the debt and make an agreement with their issuer.
The issuer can set rules based on details such as days overdue, account status (Blocked, Defaulted, Creliq, Loss, etc.), balance and zip code range in order to generate information on customer debt in files to be made available by Dock.
These files can be reviewed (by the issuer’s billing team or even expert billing consulting firms) and used for choosing customers that are eligible for renegotiating their debits by including agreements.
Updated 3 months ago