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#2136865 - 07/03/17 09:00 PM Credit Reporting- 'Chapter' 128
MainStreeter Offline
Member
Joined: Jun 2014
Posts: 58
Does anyone have any insight in how to accurately code to show an account is under a chapter 128 repayment plan?

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#2136874 - 07/04/17 12:26 AM Re: Credit Reporting- 'Chapter' 128 MainStreeter
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
61. Question: How should an account be reported when it is included in a Personal Receivership plan (Wisconsin Chapter 128)?

Answer: Report the account per existing Metro 2® guidelines. If the Terms Duration and Scheduled Monthly Payment Amount were modified by the plan, report the new values. Include Consumer Information Indicator 1A (Personal Receivership) for the consumer who filed the plan. When the plan is completed or has been dismissed, report Consumer Information Indicator Q to remove the Personal Receivership indicator.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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