The Mastermind Series presented by Vertican Technologies

High level virtual training series hosted by a Vertican SME.

August 10, 2022 @ 2 p.m. (Eastern). Free to attend, RSVP required.

How to Implement Pending Costs in Collection-Master

Presented by:

Luis Gomez PortraitLuis Gomez is Vertican’s Chief Strategy Officer. He has more than 30 years of experience with the company, filling literally every role from client services, to field trainer, application architect, designer, and developer. In addition to building the Collection-Master platform, Luis is one of the original architects of the YGC standard and Mailman, and more recently, the vExchange Data Standard. As a result of being deeply involved with all aspects of the ARM industry, Luis has built an unparalleled understanding of the industry which enables him to provide innovative, unique, and out-of-the-box solutions.
Pending costs are a special category of cost disbursements, and are particularly useful when users do not want to increase the consumer balance at the time the costs are disbursed, and instead expect to charge the consumer for these costs at a future date.
In this session, Luis Gomez will help users to better understand how to take advantage of Pending Costs in Collection-Master while covering:
  • The original process prior to Pending Costs and the problems that came along with it
  • The New Costs Paradigm
  • Buckets
  • Cost subtypes
  • Disbursement Account Card
  • Financial trail
  • The impact of Pending Costs to Interest
  • Direct Costs
  • AutoCost – Convert NonRecoverable to Pending
  • Special tags for collections
  • How to setup Pending Costs in Collection-Master [2-S-2]
  • How to spend Pending Costs in Collection-Master [2-1-3]
  • How to move Pending Costs to either Recoverable or Non-Recoverable Costs [2-1-2]
  • Why moving Pending Costs is a financial transaction

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