Showing posts from June, 2017

Going to Court over a Loan

Whether you're the one filing the lawsuit or not, a lawsuit means something is not going right on the loan.  Make sure you find a qualified attorney to represent you in court.  There may be a lot of fear and uncertainty if you are served a lawsuit, and you may feel financially threatened.  If you are filing the suit, there may be a lot of resentment and frustration.  For a borrower that believes the lender has accounted incorrectly on a loan, the suite is the final step in attempting to correct the problem.  For a lender being sued by a borrower, the suite is a warning that the lender has not follower their obligation to service or account for the loan properly.  For a lender looking for a judgement against a borrower, the suit is the means to secure repayment from a borrower that has severely violated the normal repayment terms of the loan. There are a few things that will definitely result in a loss for the lender.  If the loan contract conflicts with local or federal

Manual vs. Automatic Loan Calculations and Management

There's a huge commitment of authority whenever you automate something.  A simple example would be the transmission in a car.  With a manual transmission you can personally optimize the torque and fuel efficiency of your drive at the expense of doing extra work to choose throughout the drive which gear best suits the current situation.  With an automatic transmission, the decision about how much torque the engine needs to produce is handed over to the routines created by the engineers that made the car.  More thoughtful, tested, adaptive routines can make the car more efficient or give better performance or both.  If the automatic transmission is rough or inefficient or unaware of the kinds of roads you usually drive or your driving style, the experience can be unpleasant.  When you choose an automatic transmission, you're putting your faith in the car maker to build a system that can shift the gears at least as well as you would have. Loan servicing software is like that

Getting Started with Your First Loans

So you find yourself with a loan or many loans.  Maybe you sold a house, maybe you inherited a portfolio.  Your hope is that borrowers will pay the loans promptly and consistently.  You know there are a lot of laws that govern loans and collecting debts, but you're not fully acquainted with the details.  You know you'll have to report your income, and that sometimes the loan will affect the borrower's taxes, too. Don't worry.  We're here to help. Moneylender Professional includes free phone and email support.  We get lots of questions about what a lender is supposed to do.  We're happy to share what we've learned talking with hundreds of lenders since 2004.  We want you to be as successful as our other customers have been, and we want you to maximize the return, stability, and value of your loan portfolio. The first thing to do is to get yourself set up with our Moneylender software .  Loans require complex calculations, and if there's a mistake it