The promise functionality in LoanPro is designed to help you keep track of what your customers tell you they will do. This information is then made available inside of each account and in aggregate in the promises report.
There are three states that a promise can be in: pending, failed, and fulfilled. Pending means the promise hasn’t been fulfilled, but the promise due date you set when creating a promise hasn’t yet passed. Failed means the due date passed and the promise wasn’t fulfilled. Fulfilled means the promise was fulfilled.
Since LoanPro has little way of knowing what will and won’t fulfill a promise, you will have to manually mark promises fulfilled. In the case of payment promises, LoanPro will prompt you and provide a shortcut to let you easily mark the promise fulfilled.
The promise data you gather should help guide your collections efforts and let you know if the customer is likely to fulfill the promise they are making to you.