Charge Off

Charge-Off

General. The purpose of a charge-off is to designate some portion of a loan principal balance or earned but uncollected fees, interest, or escrow as uncollectible. This will do two things: first, it…

Updated 3 days ago by Cole

Net Charge-Off Overview

General. The net charge-off section of LoanPro accounts is designed to help you track any amounts on your accounts that you have deemed uncollectible. In LoanPro you can charge off an amount by loggi…

Updated 2 weeks ago by Cole

Log a Recovery Payment

General. A recovery payment is specifically a payment you receive on a charged-off account. You should only charge off an account if it’s unlikely that some portion of what is owed on the account wil…

Updated 1 month ago by Sloan

Charge Off - Collectible vs Charge Off - Uncollectible

General. For many companies, there are two stages of a charge off. The first, charge off - collectible, is a situation in which there is some chance that no more payments will be made on a loan, but…

Updated 8 months ago by Cole

Charge Off

Charge-Off

Net Charge-Off Overview

Log a Recovery Payment

Charge Off - Collectible vs Charge Off - Uncollectible

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