Arrears

Arrears

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. To create a new note, you can click on the green + New Note button and a new pop up window will appear.