Equifax provides a Web service to allow the uploading of Defaults, these can be uploaded on individual Accounts and via the bulk wizard.

This functionality consists of the following:

• A wizard under the Process menu, Credit Bureau Defaults, to edit and upload a list of defaults to Equifax.
• Tracking of defaults loaded to Equifax.
• Only one Default may be Current for an Account.
• Defaults are tracked and only changes are sent to Equifax.
• A Script is used to create and update the Default records, i.e.
• Decide when to create a new record, e.g. when the Account is overdue > $100 and is >= 90 days overdue.
• Decide the 'Status' of the Default, e.g., Active or Scheme or Arrangement, i.e. a Payment Arrangement is in place.
• A built-in Script is used by default; ObjectEvents_CreditBureauDefaults_Events.
• From version 3.02.00 Settings for Credit Bureau Defaults have been moved to Global Settings for the following:
• Minimum Days before an account can be defaulted.
• Minimum amount an account can be in default by before being default.
• For the full breakdown of the change, please review the Knowledge Base Article here.
• From version 3.02.00 the ability has been built in to stop defaults more than 5 years old from attempting to load a default.
• Click here for more information.
• From version 3.02.03 there is the ability to cancel a Credit Bureau Default that is still open in finPOWER Connect.
• Click here for more information.
• From version 3.02.04 there is an option to flag an account as being "In Legal" via monitor category.
• This can be completed by amending the constants on the script and defining it within Global Settings, Accounts, Scripts. An "In Legal" account will be treated as the whole balance being in default/outstanding and will record this against the client's credit history as such.
• Click here for more information.