14Specialty Creditors
Creditor Classification 14: Automotive
Creditor Classification 14 means "Automotive". The original creditor was an automotive creditor: a dealer that carried its own paper, a captive manufacturer finance arm, or an auto-specialist lender. It is reported in K1 Creditor Classification (Field K1-4) of the K1 Segment (Original Creditor Name), 2 characters at position 33.
Specification
| Code | 14 |
|---|---|
| Meaning | Automotive |
| Field | K1 Creditor Classification (Field K1-4) |
| Record | K1 Segment (Original Creditor Name) |
| Length / position | 2 chars · 33–34 |
| Category | Specialty Creditors |
| CRRG reference | CRRG Creditor Classification code table (K1 Segment) |
What Creditor Classification 14 means
- Covers buy-here-pay-here dealer financing, captive finance loans written by a manufacturer's finance arm, and loans from lenders whose business is specifically vehicle finance.
- Deficiency balances after repossession are the most common shape this classification takes in collections, because the original vehicle loan is what generated the balance.
- Distinguish from 08 (Banking) and 13 (Credit Union): if a bank or credit union wrote the vehicle loan, classify by the institution, not by the collateral. The presence of a car does not make an account automotive.
- Distinguish from 09 (Rental/leasing) for vehicle leases originated by a leasing company rather than an automotive creditor.
- Does NOT include repair or service balances owed to a garage. A repair bill is a personal-services obligation (05), not vehicle finance.
When to report 14
- 1A debt buyer purchases a portfolio of post-repossession deficiency balances from a buy-here-pay-here dealer group.
- 2A collection agency reports a placed deficiency balance from a manufacturer's captive finance arm after a voluntary surrender.
- 3A collection attorney reports an unpaid vehicle-loan balance originated by an auto-specialist subprime lender.
- 4A servicer furnishing a transferred auto book appends a K1 naming the originating captive lender.
Reporting rules
- Classify by the creditor's business, not by the collateral. A bank auto loan is 08 and a credit-union auto loan is 13.
- Preserve the original loan's Date Opened, Date of First Delinquency, and original charge-off amount when furnishing a deficiency balance. These belong to the vehicle loan, not to the recovery process.
- Report the deficiency balance actually owed after sale proceeds were applied, not the pre-repossession balance.
- Name the dealer or finance arm the borrower signed with, not the auction house or remarketer.
Codes and fields that must agree
A file can be structurally valid and still be wrong. These are the cross-field conditions Creditor Classification 14 has to satisfy.
- Report only on a record carrying a K1 segment, meaning the automotive creditor is not the furnisher.
- Pairs with Base Segment Account Type 0C (Debt Buyer Account) for purchased deficiency paper and 48 (Collection Agency/Attorney Account) for placed balances.
- Portfolio Type I (Instalment) is the norm for vehicle finance, so Terms Duration and Terms Frequency should be populated consistently with the original contract.
- Repossession is carried by the Account Status and payment history of the underlying loan, not by this field. Classification does not change because the vehicle was recovered.
- Where the deficiency was sold, add the K2 (Purchased From / Sold To) segment for the seller and keep K1 on the originating automotive creditor.
Common errors involving 14
K102B019B026
K1 Invalid Creditor Classification
The original creditor classification code is invalid
Original Charge-off Amount Missing on Charge-off
Account Status is 97 (charge-off) but no Original Charge-off Amount is reported
Date of First Delinquency Missing on Delinquent Account
A delinquent or charged-off account has no Date of First Delinquency
Vocabulary
Keep browsing
- All 15 creditor classification codes — the full set with categories and cross-field rules.
- Metro 2 codes cheat sheet — every CRRG code set on one page.
- K1 Creditor Classification field reference — position, length, and validation rules.
- Metro 2 format reference
See Creditor Classification 14 in your own file
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