Search found 54 matches

by wtech_josh
Sun Jan 05, 2020 2:53 pm
Forum: Statements and Servicing
Topic: Form 1098 Principal Balance is too high
Replies: 0
Views: 6569

Form 1098 Principal Balance is too high

A lot of people look at the principal reported on form 1098 and believe there is an error. This is the principal balance at the beginning of the day at the beginning of the calendar year in question. So the 1098 form for tax year 2019 has the principal balance of the loan at the beginning of 2019 , ...
by wtech_josh
Thu Jan 02, 2020 9:19 pm
Forum: Statements and Servicing
Topic: Form 1098 template for the 2019 tax year
Replies: 0
Views: 6391

Form 1098 template for the 2019 tax year

If anybody is having trouble getting the 2019 forms into their portfolio, download the attachment to your computer and you can import the templates from that file.
by wtech_josh
Mon Dec 16, 2019 3:10 pm
Forum: Management and Financials
Topic: Want to keep the late fees, but not show the loan as behind because they weren't paid.
Replies: 0
Views: 6225

Want to keep the late fees, but not show the loan as behind because they weren't paid.

When a borrower is late, but only pays the regular payment, and you don't want to have the late fees showing as outstanding on the loan or affecting the loan's current/past-due status, here's a quick way to tell Moneylender not to worry about getting the extra money owed from the late fee right away...
by wtech_josh
Thu Dec 12, 2019 2:06 pm
Forum: Other Options
Topic: Where/how do I start reporting to credit bureaus?
Replies: 0
Views: 7334

Where/how do I start reporting to credit bureaus?

You need an account with at least one of the credit bureaus, and you can upload the Metro2 files that Moneylender generates through each of their online systems once you have an account. Once you have an account, you'll submit your first file for testing/verification. You'll probably get a response ...
by wtech_josh
Thu Dec 12, 2019 1:30 pm
Forum: So my borrower just...
Topic: Their payments are all over the place and I just want it to show that they're current.
Replies: 0
Views: 7220

Their payments are all over the place and I just want it to show that they're current.

Our borrower has been mostly acceptable with a few stumbles, but overall we're happy with their repayment, how do we tell Moneylender that we want them to be current? I don't want to waive any interest or fees or anything, but I want the loan to look like they're current. Without affecting the actua...
by wtech_josh
Thu Dec 12, 2019 12:40 pm
Forum: Installation / Portfolio Setup
Topic: Cool Features to Set Up Right Away
Replies: 0
Views: 9082

Cool Features to Set Up Right Away

People ask what tips can you give me to get started? Here's a list of some of the cool capabilities you'll probably want to turn on in Moneylender right away: Automatic Backups - File > Moneylender Settings > Backup tab - specify a cloud-synchronized folder like dropbox or onedrive for the backups a...
by wtech_josh
Wed Dec 11, 2019 10:36 pm
Forum: Bankruptcy
Topic: Proof of Claim form
Replies: 0
Views: 7272

Proof of Claim form

Bankruptcy courts use a standard proof of claim form, and the attached template file is a version of the payment distribution report that will very closely match that Proof of Claim format. If anyone has tried submitting this report directly, please let us know if the court accepted it or not. I tal...
by wtech_josh
Wed Dec 11, 2019 10:07 pm
Forum: Installation / Portfolio Setup
Topic: Merge two portfolios together?
Replies: 0
Views: 7271

Merge two portfolios together?

If you have loans in more than one portfolio, and you want them merged together so all your loans are in the same portfolio: Open one portfolio > select all the loans (click a loan and press Ctrl-A) > Tools > Copy Selected Loans to a Different Portfolio > Choose the other portfolio file. Moneylender...
by wtech_josh
Wed Dec 11, 2019 8:57 pm
Forum: Bankruptcy
Topic: Stopping interest and fees from accruing in bankruptcy protection
Replies: 0
Views: 5207

Stopping interest and fees from accruing in bankruptcy protection

Do two things to the loan: set the interest rate to zero when the protection took effect, and expire the late fees before the protection kicks in. Select the loan > Settings tab > Interest section > click the New (plus) button > set the rate to 0% and the effective date to when the protection kicks ...
by wtech_josh
Wed Dec 11, 2019 8:21 pm
Forum: End of Loan
Topic: How can I keep track of loans that are maturing?
Replies: 0
Views: 6956

How can I keep track of loans that are maturing?

There are a couple tricks you can use to make it easy to keep track of loans that are maturing soon: The red exclamation-triangles along the left side of the list of loans will light up when loans are getting close to maturity. Hover or click them to see a message about the exact date of maturity. Y...