Even though you're reading a 101 article, you likely understand the basic concept of bankruptcy. Bankruptcy is a legal way to absolve a borrower of debt. After that, things get fuzzy for most people. There are several types of bankruptcy, each referenced by the chapter of the US Code which they appear in. So what does bankruptcy do?
This article explains how to use LoanPro's bankruptcy tracking. Descriptions of available options are given as well as details about the required tasks at each step in the process.
Delete a Loan
General. You can delete unwanted loans from LoanPro. Before doing this, verify that you truly don't want the loan or any of it's associated information. It is possible to restore a deleted loan , but…
Days Past Due and Amount Past Due
Introduction. Amount and days past due are the numbers that are used to calculate delinquency. Amount past due is calculated as the total amount to come due to date minus the total amount paid (exclu…
This article explains the Credit Limit loan type and how to use it when creating a new loan.
General. The Summary tab inside a loan is designed to give you a quick overview of the loan data. This article will go over the data available to you on the Summary tab. You do have the option to cus…
Comparison of Loan Labeling and Grouping Options
This article explains the difference between loan status, portfolios, custom fields, checklists, associated company, and source companies.
Pay Off a Loan
Introduction. The desired outcome for a loan is that the borrower will pay it off. This article covers paying off a loan in LoanPro. There are many scenarios where the loan will not be paid off in th…
Log an Advancement/Credit
General. Advancements and credits directly affect the principal balance on a loan. Logging an advancement or credit may be necessary in the following circumstances: you are lending additional money t…
Creating a Loan Through an Application
This article explains how to create a loan through an application by using the customer website in LMS.