I will try to explain this as best as I can...

Example: On a $50,000 original note (Ln#123) amount. We charged off $10,000, leaving 40,000 still owed. The customer is current on his payments on the remaining $40,000.

According to E-Oscar, they want us to lower Ln #123 to $40,000 and report a new loan #456 as a $10,000 charge-off.

We are not wanting to do this b/c what if customer comes in and pays off ln #123 and we release the collateral?? We would still have a $10,000 charge off on ln 456.

There has got to be another way to report partial charge off.

Any suggestions?

According to E-Oscar? Does your institution report monthly through your service provider? If so, let the reporting be handled that way and leave E-Oscar alone.

Oops, sorry...Not E-Oscar (I have e-oscar on my brain )on Metro 2.