Managing Loan Arrears

Managing loan arrears

To view loans in arrears, select the ARREARS option from the side main menu.

Select the specific loan which you would like to manage and a new page will open for that specific loan. Here you will be able to see the Loan Summary and also be given options to set Reminder and Tasks, located on the far right hand side of the page.

In order to manage loans which are in arrears, select the Arrears button from the side main menu bar. This will open the Arrears Management window which is broken into a few more information boxes. Please scroll down to view them.

• Borrower Details

Here you will be able to see how the loan belongs to and their details.

• Account Details

In this information box, you can view all the account details for the loan, such as current balance, when last payment was received and how far in arrears the account is sitting at.

• Manual Repayments

Here you can enter any Manual Repayments received, the amount and the effective date received is needed. Should you need to enter more than one Repayment, simply click on the green + repayment button to load another repayment option. Once you have loaded the repayment details, click on the green Create button to load and save your repayment entries.

• Arrears Correspondence

Should you require to send an Email or Letter to the borrower regarding their account which is in arrears, you can select this option as well as a provided wording template from the drop down menu. After making your selection, click on the green Create button to send your correspondence.

• Arrears

Here you can view all the information relating to the arrears account. You can view the amount in arrears as well as an age analysis.

• Arrears Repayments

Should the borrower make a repayment you also have the option to enter a custom repayment, calculate and apply a new repayment amount in this section.

• Repayment Type / Allocate Interest

In this section you can select the Repayment Type (Manual/DDR) or select if you would like to allocate interest on the account, by selecting yes or no.

• Notes

Here you will be able to view and/or create any notes relating to this loan account. To view the notes, simply scroll down or to print the notes, you can click on the green Print Notes button.

New Notes

To create a new note, click on the green + New Note button and a pop up window will appear. Fill in the note’s subject (which can not be left blank), enter in the information in the note block, assign the note to a person by either typing in their details or by searching for them using the drop down menu. Select the checkbox for action required and once you have completed filling in your notes, you can click on the blue Save button. Your new Note will now appear in the notes section.

Other forms of communication

You also have the option to send out SMS or Email notifications for this specific loan by clicking on the desired button located on the top right hand side of the page.

If you select the SMS tab, a pop-up window will appear where you can select a template to use, enter the receiver's details and type in your own message if required.

If you select the EMAIL tab, a pop-up window will appear where you can select a template to use, enter the receiver's details and type in your own subject and message if required.