Collect! Credit and Collection Software™

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Credit Report Preferences

Credit Report Preferences are used as default values when you report Debtors to the bureau.

These default settings are used for every account you switch ON for reporting. They can be changed globally or on a per debtor basis. When you select an item from the pick list, the corresponding code will be set in the Debtor's Credit Report Details.

Credit Report Preferences

The pick lists on the fields are interdependent. You will notice that the available choices change depending on what you have selected for other fields.

Useful Note Default values from the Metro2 Standard are provided for normal collection and credit management reporting. Please refer to your Metro2 Manual for help selecting from the pick lists. If you are not sure which default values you should use, please discuss with your credit bureau representative.

Warning Note WARNING: Reporting credit is a legal matter. You are responsible for ensuring that the information you are sending is accurate and complete. Do not report credit without being ABSOLUTELY SURE about your legal rights and the legal rights of the person or entity you are reporting.

The Credit Report Preferences form is accessed by selecting the DEFAULTS button on the Credit Bureau Setup form.


This field contains the industry type that classifies the reporting agency. Common examples of Industry are "Collection Agency" and "Mortgage Loan."

Valid Industry Codes are:

0 - Check Credit
1 - Collection Agency
2 - Credit Card
3 - Credit Union
4 - Debt Counselor
5 - Educational
6 - Family Support
7 - Government Agency
8 - Installment Loan
9 - Loan Finance
A - Mortgage Loan B - Retail C - Sales Finance D - Savings And Loans E - Service And Professionals

Useful Note This is the field that holds the value Collect! uses if you want to "Report by Industry" as described in Credit Bureau Setup.

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Account Type

This field contains the account type code that identifies the account classification. You will notice that the choices depend on what you have selected as the "Industry" in the previous field.

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Status Code

This field contains the status code that properly identifies the current condition of the account. Available Status Codes change depending on the "Account Type." For instance, a "Collection Agency/Attorney" reports statuses such as "Seriously past due" and "Paid in Full." While an accounts such as "Real Estate Mortgage" reports statuses like "Current" or "150 days past due."

Collection Agencies will predominantly be reporting in bulk as “Seriously past due and/or in collections” unless they are specifically running a batch of Deletes, or adjusting their reporting with a Special Comment like Dispute (XB in the METRO2 file).

Useful Note Collect! Debtor status codes and bureau status codes are not in any way connected or interdependent. A change in a Collect! debtor Status Code field has NO CHANGE on a debtor's credit reporting file scheduled for the next reporting date.

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Payment Rating

This field contains settings for specifying whether or not an account is Current or Past Due. It is only visible for certain Status Codes that Collect! does not handle automatically. Please refer to How to Setup Credit Bureau Reporting for details.

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Portfolio Type

This field contains the type of the debt. The pick list offers choices for common credit and loan types. Examples of Portfolio Type are "Open Account" and "Line of Credit."

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This field is used in conjunction with the Account Status to further define the account. Special comment codes, when found, will however take precedence over the value in Account Status.

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This is used to designate an account in compliance with the ECOA. This setting can be changed for an individual Debtor through the Credit Report Details form accessed from the Debtor form.

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Condition Code

This field allows for reporting of a condition that is required for legal compliance; e.g., according to the Fair Credit Reporting Act (FCRA).

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Country Code

This is the country that the Debtor lives in.

The list of default country codes provided by Collect! shows only a few of the most used country codes. Please refer to your Metro2 Manual if you need to use a different code.

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Default Info Ind

This field provides for entering a value indicating a bankruptcy condition that applies to the Debtor cosigner.

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Delay Before 1St Report

Switch this On to Delay before the first Credit Report. Enter the number of days to delay in the Delay Days field.

Useful Note This switch is used in conjunction with the Credit Report Details form accessed from the Debtor form. When you switch ON "Report to credit bureau" in the Credit Report Details form, the "Start reporting" date will be calculated according the defaults you set here. You can override these by choosing a new "Start reporting" date in the Credit Report Details form for a particular Debtor.

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Delay Days

Enter the number of days that you wish to delay before reporting a new Debtor or an existing Debtor that you choose to report to credit bureaus. The number you enter here will be calculated into the "Start reporting" date in the Credit Report Details form accessed from the Debtor form.

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This field is used to determine if the Debtor has a cosigner to be reported on. ECOA choices and details are filled in on the Debtor Cosigner form. Select the Cosigners tab in the Debtor form to access Cosigner information for the Debtor. Press F1 when the Debtor Cosigner form is displayed. The Help topic contains valuable information about credit bureau reporting formats for each field.

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Press this button for help on the Credit Report Preferences form and links to related topics.

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Selecting this button will ignore any changes you have made and return you to the previous form.

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Selecting this button will save any changes you may have made and return you to the previous form.

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