Collection Status at the header level

 Hi Team,

I would like to understand as to how the Collection Status field is showing the status of Delinquent, PreDelinquent, Current. I know that it is being setup at the Collections Administrator and had the priority assigned to each but I want to know on what basis is the status is added.

We are using the Payment Schedule as a Scoring component and running with Scoring engine harness of Delinquency status determination with Payment Schedule and Bill To Scoring with Aging bucket line. 

Could you please shed some light for me on the same?

Thanks,

Pavan