Repossession and Foreclosure
Asset recovery events and their impact on balances and statuses.
Updated 8/14/2025 · 1 min read
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Lifecycle handling
Report events and dates that mark the transition from delinquency to collateral recovery. Ensure consumer disclosures remain clear about what was owed, recovered, and written off.
Deficiency balances
If a deficiency remains after sale, ensure balances and statuses reflect the legal outcome. Close or update the tradeline accordingly.
Last updated
8/14/2025