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#2009898 - 04/23/15 07:52 PM Past due loan
Anonymous
Unregistered

Would you re-age a loan without the consumer's signature?

We have a loan where 3 payments were missed, but since then the payments are coming in on time and are consistent. But we don't want to keep the loan on our delinquency report- but the consumer will not respond to our phone calls or letters.

Is this a contractual issue that should have a signed agreement or can we re-age since it is in the consumer's favor?

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#2009906 - 04/23/15 08:06 PM Re: Past due loan Anonymous
osucpa Offline
Diamond Poster
Joined: May 2011
Posts: 1,406
What do you mean by re-age a loan. If a customer was past due (missed) 3 loan payments, when a payment was received was it not applied to the oldest payment due?

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#2009910 - 04/23/15 08:10 PM Re: Past due loan Anonymous
Anonymous
Unregistered

It was, but they are just sending in their normal monthly amount-- they aren't sending in anything additional to cover the delinquent payments or late fees.

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#2009930 - 04/23/15 08:40 PM Re: Past due loan Anonymous
jaenelle Offline
Member
Joined: Sep 2005
Posts: 50
Kansas
In our system, they would remain past due and show up on the past due reports until they weren't actually past due anymore. Isn't it kind of fishy to want to remove someone who is past due from past due reports etc?
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