Understanding the Difference Between a Debtor Record and a Debt Collection Case in FinView

In FinView, managing debt recovery involves working with two key elements: Debtor Records and Collection Cases. Understanding the distinction between these two is crucial for effective debt management.

Debtor Record: The Primary Identifier

• What It Is: A Debtor Record in FinView is a foundational element that represents an individual or company. It serves as the primary profile where key information about the debtor is stored.
• Contains: This record includes essential details, such as the debtor's name, contact information, demographic data, and any other specific identifiers relevant to the debtor.
• Purpose: The main goal of a Debtor Record is to maintain a centralised and consistent repository of information about a debtor. It ensures that all interactions and transactions related to a particular debtor are linked to a single, unified profile.

Debt Collection Case: The Debt Detail

• What It Is: A Collection Case in FinView is a record that pertains specifically to a particular debt owed by the debtor.
• Contains: This includes detailed information about the debt itself, such as the amount owed, the origin of the debt, terms of repayment, current status of the debt, and any actions taken or planned for debt recovery.
• Purpose: The purpose of a Collection Case is to track and manage each specific debt. While a debtor might have multiple debts, each Collection Case focuses on the individual details and recovery process of a singular debt.

Key Differences

A Debtor Record is broad and encompasses all data about a debtor. In contrast, a Collection Case is specific and focuses on a particular debt