Repossession Expenses

A.1.4 Repossession Expenses

Repossession expenses include any costs incurred while obtaining the asset, including legal fees or storage costs.

Repossession expenses appear in Other Due field on the Dues section of the Summary tab of Customer Service screen. This is the first screen to appear on the Customer Service screen when you load an account.

Figure A-4 Repossession Expenses

Description of "Figure A-4 Repossession Expenses"

The adjustments will also appear in the corresponding column of Customer Service screen’s Account Balances screen for EXPENSE REPOSSESSION/FORECLOSURE Balance Type-- Waived, Charged Off, Adjusted (-), or Adjusted (+) -- depending on which of the following transactions you perform.

Figure A-5 To post a repossession expense

Description of "Figure A-5 To post a repossession expense"

Table A-8 Repossession expense

Transaction	Parameters
Repossession Expenses	Txn Date Amount

Table A-9 To adjust a repossession expense

Transaction	Parameters
Adjustment To Repossession Expenses - Add	Txn Date Amount
Adjustment To Repossession Expenses - Subtract	Txn Date Amount

Table A-10 To waive a repossession expense

Transaction	Parameters
Waive Repossession Expenses	Txn Date Amount

Parent topic: Monetary Transactions