Judgment

The Judgment view provides a complete list of the judgments posted against the account.  The user accesses this view to initiate a new judgment posting, reverse an existing judgment or view the details of an existing judgment.  

The Judgment view provides the user with the capability to add new judgments by selecting the Post a Judgment push-button.  The Post a Judgment dialog is displayed.  To affect the balances, the user enters a total judgment amount and its breakdown across each of the due amounts (principal, interest and costs).  The user selects the Save push-button and the judgment is saved to the Recovery Accounting databases.  

When posting a judgment transaction, the user should reverse any external transactions (payments, etc.) that occurred between the effective date of the judgment and the current processing date (i.e., the judgment transaction does not automatically make adjustments to these transactions).  The user may then repost the original transactions in effective date order so that the Recovery Accounting may correctly calculate the accruals on the new balance.

Recovery Accounting does not restrict the number of judgments that may be placed on an account.  A judgment transaction does not reject for the sole reason that another judgment already exists for the account. Each new judgment event supersedes any previous judgments for that account.  

Once a judgment is posted it may not be changed, the details of the judgment are available for viewing by selecting the Effective Date hyperlink.  The Judgment Transaction dialog is displayed with the judgment’s details.  The user views the information and selects the Close push-button to return to the Judgments view.

The Judgment view provides the user with the ability to reverse a judgment.  A Reverse hyperlink is displayed in the Reversal? Column if the associated judgment has not been reversed.  The selection of the Reverse hyperlink displays the Reverse Judgment dialog.  The user verifies that the judgment displayed is the correct judgment to be reversed and selects the Save push-button.  The judgment is reversed and the Reversal? column displays Yes for the judgment.  The user may cancel a reversal request by selecting the Cancel push-button on the Reverse Judgment dialog.  The user is returned to the Judgments view.