95Special Condition Codes
Status Code 95: Voluntary Surrender
Collateral was voluntarily surrendered by consumer
Overview
- Used when consumer voluntarily returns collateral
- Balance may remain if collateral sale doesn't cover debt
- Slightly less negative than involuntary repossession
- Not to be used for early lease terminations
Common Use Cases
- 1Consumer returns vehicle to avoid repossession
- 2Voluntary return of financed equipment
- 3Surrender of collateral as part of workout agreement
Reporting Guidelines
- Report remaining balance after collateral sale
- Include date of voluntary surrender
- Track deficiency balance collection efforts
- Update to 61 if paid in full
Other Special Condition Codes
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