Search found 54 matches

by wtech_josh
Wed Dec 11, 2019 4:29 pm
Forum: End of Loan
Topic: Sending a Loan to Collections
Replies: 0
Views: 4899

Sending a Loan to Collections

My personal favorite way of sending a loan to collections is to charge-off the loan and then consider all payments through collections as profit. First, use the Payoff Calculator to generate a payoff quote. Send that amount to collections - that's what the borrower is supposed to pay you at the time...
by wtech_josh
Wed Dec 11, 2019 4:18 pm
Forum: AutoPay Service
Topic: What happens to recurring payments at the end of a loan?
Replies: 0
Views: 5630

What happens to recurring payments at the end of a loan?

In AutoPay, if a loan is closed in Moneylender, it will stop generating recurring payments. If a payment is scheduled within 7 days at the time the loan is marked closed, you will probably need to go to the AutoPay settings on the loan and cancel that payment. If a borrower chose the recurring payme...
by wtech_josh
Wed Dec 11, 2019 4:14 pm
Forum: AutoPay Service
Topic: What's the link to give to my borrowers?
Replies: 0
Views: 5143

What's the link to give to my borrowers?

https://whitman.tech/payments is the link to the AutoPay login. When you enroll a loan, the server will email the link with an invite code to the borrower. Without the invite code, the borrower won't be able to sign up for AutoPay, even if they go to the link above. Make sure you've enabled AutoPay...
by wtech_josh
Wed Dec 11, 2019 4:09 pm
Forum: Management and Financials
Topic: Loan suddenly shows the amount due as the full balance.
Replies: 0
Views: 5454

Loan suddenly shows the amount due as the full balance.

If your loan is suddenly showing the full balance as the amount due, check that you didn't accidentally try to record a payment on the Settings tab instead of the Payments tab. The Settings tab usually only has one entry in the payment section - a setting like the borrower pays "$500 monthly for 180...