Payment Intercepts is the process of establishing intercept requests, determining the eligibly of payments for intercept, determining the amount of intercept for individual payments, charging fees on intercepted debt, tracking intercept activity, and transferring funds to the entity requesting the disbursement intercept. The Intercept Functionality in Advantage also allows you to record the Debts that were intercepted in an External Payment System. These Debts could either be an Internal Debt (debt that is associated with a Receivable Transaction within the Advantage Application) or an External Debt (debt that originated outside of the Advantage Application but loaded into the Advantage application for intercept). You can also alert debtors that they may be subject to the intercept process if their payments are not promptly received by issuing Notice of Intent to Intercept Letters.
Advantage Financial also supports the Reciprocal Offset Program (ROP) between the U.S. Department of Treasury’s Bureau of Fiscal Service (BFS) and the States. The purpose of the ROP between the BFS and the States is to establish the terms and conditions for the offset of the State’s tax and non-tax payments to collect non-tax debts owed to the United States (State Reciprocity), and the offset of Federal non-tax payments to collect both tax and non-tax debts owed to the States (Federal Reciprocity).
Advantage Financial also supports Intercept Refund. When a debt is intercepted, the debtor is issued an Intercept Notification Letter informing the debtor that they may file a written protest if they do not agree with the Intercept claim.
For more information on the Intercept functionality available in Advantage, refer to the following topics: