Viewing Arrears

You can view arrears, including overdue interest, overdue principal, actual overdue days, total penalties, and more, recorded for a contract within the Arrears tab of the contract. These records are automatically generated by the system.

View Contract Arrears

To view the contract's arrears together with loan information, such as loan amount, total interest, and more, generated automatically by the system respecting the definition of the contract, product dimensions, system parameters and jobs, follow these steps:

  1. Navigate to the contract's Arrears tab.

  2. Click the Data Update button to gather the information.

  3. View the information displayed for each accrual and provision entry:

    • Category: the risk classification record for the loan.

    • Consolidation Date: the specific date on which all overdue amounts (arrears) on a loan are combined into a single outstanding balance and formally recognized by the lender as a consolidated debt.

    • Loan Amount: the amount that was borrowed.

    • Disbursed Amount: the actual amount of money that the lender has released (paid out) to the borrower.

    • Outstanding Amount: the total amount the borrower currently owes to the lender, including any overdue payments (arrears).

    • Total Cost: the entire amount the borrower will pay over the life of the loan, includes upfront fees, insurance premiums, taxes, etc.

    • Total Interest: the sum of all interest charges the borrower will pay over the life of the loan.

    • Total Payments: the entire amount of money the borrower pays back to the lender over the life of the loan.

    • Overdue Amount: the portion of the loan that the borrower should have already paid but hasn't by its due date.

    • Overdue Interest: additional interest charged on overdue amounts, typically as a penalty for late payment.

    • Overdue Principal: the portion of the loan’s principal (original borrowed amount) that the borrower failed to repay by its due date.

    • Total Penalties: the sum of all penalty charges a borrower has incurred due to non-compliance with loan terms, typically related to late or missed payments.

    • Actual Overdue Days: the number of calendar days that a loan payment (principal, interest, or both) has been past due—from the due date to the current date or the date the payment was made, if already paid.

    • Maximum Overdue Days: the longest duration (in days) that any portion of the loan payment has remained unpaid past its due date at a given point in time.