Navigation:  Loans > Loan Screens > Statistics and Summaries Screen Group > Promise Tracking Screen > Promise Options

The following options will affect the way the system records promises kept. These options are set up on the Loans > System Setup Screens > Collection Institution Options screen.

 

•Use Multiple Promise to Pays: If this option is checked, the <Multiple Promises> button will be enabled on the Marketing and Collections screen, and collectors will be able to enter up to three payment promise amounts and dates from the borrower.

 

•Payment Satisfies Promise Amount: If this box is checked, the borrower must make a payment of at least as much as the amount entered in the Promise Amount field on the Contact tab of the Marketing and Collections screen in order for it to be counted as a kept promise. For example, if the Promise Amount field is $50 and the borrower makes a $5 payment, the transaction will not be counted as a kept promise. However, if the borrower made a $50 payment, the transaction would be counted as a kept promise. Additionally, the payment must be made within seven days after the Follow-Up Date in order for it to be counted as a kept promise. However, the following option affects the Follow-Up Date.

 

•Use Promise to Pay Grace Days: If this box is checked and a number is entered in the field to the right of this box, transactions made after the Follow-Up Date but within the number of days entered will count as a kept promise. For example, if this box is checked and "3" is entered in the field to the right, collectors have up to three days after the Follow-Up Date to get borrowers to make payments in order to have the payments count toward the collectors' promises kept totals.

 

•Show Delinquent and Recency Categories: If this box is checked, the account's delinquency category both before and after the payment was made will be displayed on the Promise Tracking screen.