Navigation:  Loans > Loan Screens > Cards and Promotions Screen >

Reage/Payment Schedule tab

Navigation:  Loans > Loan Screens > Cards and Promotions Screen >

Reage/Payment Schedule tab

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Use the Reage/Payment Schedule tab on the Cards and Promotions screen to bring the account current. This tab is used to help an account owner catch up on their delinquent payments (bring the account status to current). Security is needed to use this tab.

 

Two functions are available on this tab to help the borrower catch up on payments:

 

1.Reaging

2.Scheduled Payments

 

1. Reaging

 

Reaging is the aYou can use this tab to roll the due date to the number of months selected. Any fees associated with reaging a loan will automatically process once you have completed the steps to reage a loan, as outlined below.

 

Note: If the loan is in default (the Default Rate is in effect), the loan cannot be reaged.

 

hmtoggle_arrow1To reage a loan:

 

This tab is in the bottom tab group on this screen. The top and bottom tab groups display independently of each other. Any top tab can be viewed with any bottom tab simultaneously.

 

The list view on this tab displays information about all recent reages on the customer card loan account. This information includes the Old and New Due Dates on the account, the Date the reage occurred and the amount in fees assessed during the reage, and the number of Months the account was reaged, as well as the Amount in payments that were involved in the reage.

 

lcp_reage

Loans > Cards and Promotions Screen, Reage/Payment Schedule Tab

 

To reage a card loan:

 

1.Mark the Reage field.

2.Use the Months field to indicate the number of months to reage the card in the future.

3.Click <Save Changes>.

 

For each month the loan is reaged, Fees will automatically calculate. When reage changes are saved, the information will display in the list view and Hold Code 120 will be set. A card reage is not a deferment, so it will not display on CIM GOLD deferment screens.

 

A card reage can be reversed. For more information, see help for the Undo Last Reage field below.

 

The fields on this tab are as follows:

 

Field

Description

Teller Number

 

Mnemonic: TLTLLR

Use this field to indicate the the teller number of the employee at your institution who is reaging the card loan. Only tellers with proper security can reage a card loan.

Reage

 

Mnemonic: N/A

Use this field to indicate whether the customer card loan account is allowed to be Reaged.

Months

 

Mnemonic: RGMTHS

Use this field to indicate the number of months in the future the customer card loan account will be reaged.

Fees

 

Mnemonic: RGFEES

This field displays the amount in fees that will be assessed on the customer card loan account once it is reaged. For each month the loan is reaged, fees will automatically calculate.

Undo Last Reage

 

Mnemonic: N/A

Use this field to reverse the most recent customer card loan account reage performed. The loan will return to its status before the reage, and Hold Code 120 will be removed. This feature can only be used if there have been no monetary transactions or file maintenance on the loan since it was reaged.

Schedule of Payments field group

Use this field group to indicate alternate payment schedules and amounts on the customer card loan account, either permanently or temporarily. See below for more information.

 

Click <Create New>, enter information in the fields in this field group, then click <Add> to create an alternate payment schedule. Select a payment schedule in the list view and click <Delete> to remove it.

 

Any payment made on an alternate schedule will be considered a full payment, even if the payment is minimal compared to the original payment amount. The payment schedule can work in conjunction with Reaging. Multiple payment schedules can be set up on this tab.

 

The first payment of the payment schedule must be on or after the next due date on the account. If all temporary payment schedules on the account end and payments remain on the loan, the account will return to its normal payment amount and schedule.

 

lcp_paymentschedule

 

Use the fields in this field group to indicate the new Effective Date and Payment Amount for the alternate payment schedule. Use the # of Payments field to indicate the length of time that the alternate payment schedule will be active.

 

Click any column header to organize the list view by that column's information type. Select a payment schedule in the list view to edit that schedule's information in the fields in this field group.

Comments field group

Click <Show Comments> to view all teller comments about previous reage transactions on the customer card loan account in this field.

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