Search found 102 matches
- 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: 43760
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...
- Thu Dec 12, 2019 2:06 pm
- Forum: Other Options
- Topic: Where/how do I start reporting to credit bureaus?
- Replies: 0
- Views: 45734
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 ...
- 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: 1
- Views: 124353
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...
- Thu Dec 12, 2019 12:40 pm
- Forum: Installation / Portfolio Setup
- Topic: Cool Features to Set Up Right Away
- Replies: 0
- Views: 45434
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...
- Wed Dec 11, 2019 10:36 pm
- Forum: Bankruptcy
- Topic: Proof of Claim form
- Replies: 0
- Views: 45746
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...
- Wed Dec 11, 2019 10:07 pm
- Forum: Installation / Portfolio Setup
- Topic: Merge two portfolios together?
- Replies: 0
- Views: 44559
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...
- Wed Dec 11, 2019 8:57 pm
- Forum: Bankruptcy
- Topic: Stopping interest and fees from accruing in bankruptcy protection
- Replies: 0
- Views: 39566
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 ...
- 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: 42062
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...
- Wed Dec 11, 2019 4:29 pm
- Forum: End of Loan
- Topic: Sending a Loan to Collections
- Replies: 0
- Views: 39327
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...
- 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: 40013
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...