Loan write-off

The loan write-off is a feature for managing loan-related debts. The write-off is used when the loan repayments collection is not possible due to some reason. For example:

• Bankruptcy,

• Customer death,

• Unrecoverable insolvency,

• Fraud.

In this case, banks decide to write-off the loans that are not possible to recover and collect. Sometimes the write-off is used when the remaining loan amount is small or the bank does not have the right to collect due to the court decisions.

Create loan write-off

1. Find the loan contract in question:

via Loans

1. Loans > Search > Contracts.

2. Click the Contract number to open the loan contract page.

via Persons

1. Persons > Search and locate the person-borrower who has a loan contract.

2. Click the person Name to access the person details page.

3. From the content menu, select Loans > Loan contracts.

4. Click the Contract number to open the loan contract page.

1. From the content menu, click Write-offs.

2. Click the Create write-off button.

1. Fill in the write-off details > Create.

BackOffice users with the CREATE_LOAN_WRITE_OFF privilege can create loan write-offs.

Search loan write-offs

1. Access the loan write-offs page.
2. Fill in the search parameters > Search.

3. Click on the Identifier to open the write-off details.

BackOffice users with the VIEW_LOAN_WRITE_OFF privilege can search and view loan write-offs.

Reverse write-offs

1. Find the write-off in question and make sure that it is in the PROCESSED status.

2. Click the Reverse write-off button.

1. Fill in the Description field > Save.

BackOffice users with the REVERSE_WRITE_OFF privilege can reverse loan write-offs.