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#189217 - 05/12/04 04:07 PM Paid Off Loans
DCollins Offline
Platinum Poster
DCollins
Joined: Oct 2001
Posts: 707
I had this question on the general thread, however one of the responses said it would be determined by state law. Can anyone help me????

Are we required to give the customer a copy of their loan agreement (note) marked "Paid" when the customer pays the loan off? When we changed our system to image, we discontinued sending the customer notice of a paid loan.

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#189218 - 06/10/04 07:19 PM Re: Paid Off Loans
MAG Offline
100 Club
Joined: Apr 2002
Posts: 101
I don't know if this is required, but I would think you have to provide some type of acknowledgement to the customer indicating that the loan is paid in full.

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