Modifying Payment Due Dates

Sometimes a customer runs into a bit of trouble and may need to have the due dates on their payments pushed back a little bit. The software allows you to make this adjustment.

To modify the due date for a customer, you must be under the Dealer Financing tab. First, click to select and highlight a customer's name within the customer loan list as described in the Customer Payments section of this manual. Once the customer has been selected, click on the Dealer Financing menu at the top of the screen and select Modify Due Date from the pull-down menu. The software will then display the Modfy BHPH Loan Due Date options window.

Enter the date you wish to make the selected customer's next payment due. Next, select the name of a salesperson who is authorizing this change. You may use the drop-down box to select a name from a list. This list comes from the names of the salespersons entered into the Staff Maintenance window. Finally, click the OK button to make the change.

When you change a customer's due date, the due dates of any subsequent payment showing on screen headings, such as the screen heading on the Customer Payment screen, will be marked with a caret (^) to indicate a change was made.

Note: When you modify a due date, you also change the amount of interest accruing on the loan. If you push back a customer's payment 15 days, that is 15 days longer that a payment was not made which also means 15 days worth of extra interest will accrue on the principal balance of the loan.