CASH ADVANCE

After would be the different deals which are feasible for handling pay day loans:

  • Loan – Disbursement of a New Loan through different modes such as for example money, Checks, Debit cards, and ACH.
  • Partial Payment – re re re Payment in partial amounts having the ability to determine rebates and pro-rate the re payments
  • Paid-in-Full – re Payment via – money, Cashiers Checks, cash requests and Checks for total quantity to shut the mortgage
  • Deposit always always always Check – Deposit of Borrowers sign in the Stores Bank
  • Return check always Prepayments – re re Payments created by debtor following the Check Deposit Clear always always always always Check – Marking of Deposited checks as Cleared Checks
  • Reimbursement – Reimbursement of extortionate quantity collected through the debtor via Cash / Check
  • Return always check re re Payments – re re re Payments produced by debtor following the Check marked as NSF
  • Post Court Filing Payments – re re Payments following the Court filing of borrowers
  • Post Judgment Re Re Re Re Payments – Re Payments after
  • Write-off – Write-off loans that can’t be restored
  • Write-Off healing – re Payments up against the written-off loans
  • Rollback – Time bound Rollback/Void for all your deals into the use and application of an encryption rule for Rollbacks beyond the schedule
  • Bank Deposit transactions depositing that is enable for redeposit and received as Garnishment Payment

INSTALLMENT LOAN

QFund TM supports problem of loan items with numerous loan re re payment schedules, in other words., installment loans. QFund TM allows the authorized individual to process an installment loan as soon as a person is applicable for a financial loan or perhaps the main points are captured while the consumer evinces desire for using up the mortgage. QFund TM has interfaces regarding the storefront which allows shop users to disburse brand new installment loans and record receipt of re re re re re payments against each installment due.

There are 2 kinds of Installment loan:

  1. Simple Interest dependent loan – The installment interest is usually to be determined regarding the various times of final re re payment date additionally the present processing date.
  2. Fixed Interest based loan- The installment interest needs to be determined regarding the diff times of final Installment deadline in addition to present installment deadline

The APR is determined centered on Loan Amount, rate of interest, Duration, Frequency, No. of Installments, End of Month and Then Payment date. It automates the APR calculations in line with the values of Frequency, Duration, Loan quantity, rate of interest therefore the very first repayment date.

The No. of installments is determined in line with the values chosen when it comes to Installment Duration, Frequency, End of Month and First Payment date

Features

  • 2 kinds of Installment Loans – Simple Interest loan that is based Fixed re re re Payments (Pre-computed) based loan
  • Minimal Decision Points for CSR – Rules within the application address the majority of the parameters Multiple Collateral kinds – aids receipts of numerous checks as security against loans disbursed
  • Quantity of installments automobile computed by thinking about the Loan Term desired therefore the Income Frequency associated with debtor
  • Schedule of loan to be disbursed determined according to rate of interest configured within the guidelines motor
  • Alternate payment that is first function obtainable in the applying
  • First re re re payment date car populated predicated on borrower’s next pay date
  • End of options available for Monthly & Semi-Monthly frequencies month
  • Car calculation of revised check quantity
  • Rebate for very very very early payoff directed by guideline
  • Refinance applicability for a shop / state – controlled by way of a rule “Allow Refinance”

Deals

Record of Installment Loan related transactions which can be carried out are:

  • Installment Loan/ Advance- New or borrowers that are existing submit an application for an installment loan-
  • Installment Payment – Borrowers will make payment that is partial a loan, the re re payment quantity can’t be significantly less than the standard EMI. (For loan type as Simple the revised check amount equals the stability principal quantity whereas for loans of kind Fixed the revised check amount ought to be the stability principal amount as well as the Interest for the following re re payment duration.)
  • Early Payoff – Borrowers could make payment that is full a loan.
  • Deposit- the answer immediately provides deposit deal when it comes to check that is collateral if letter re re re payments are due as well as the elegance duration is elapsed.
  • Clear Deposited always Check – this suggests that the be sure had been deposited by happens to be honored because of the Borrower’s bank.

CAR EQUITY LOAN

QFund TM covers functionalities linked to car Equity loan which can be supplied to Borrowers. For almost any Borrower to avail this loan, they have to be registered with QFund TM .

Features

  • It allows the CSR to recapture the Vehicle Condition details to discover the loan amount that is qualified.
  • Any borrower’s loan amount is fixed because of the quantity he gets qualified to after operating Tele-track.
  • Transfer of name from the borrower’s name into the home loan company, with day-to-day alerts given to pending transfers or alerts on pre-configured guidelines.

Settings within the application:

The different settings which are confirmed & impacted by the program through the life period of an automobile Equity Loan are:

Guidelines

Settings for automating functions a few critical functions through the lifecycle of that loan

  • APR definition
  • Fee configuration for many charges relevant
  • No. of missed installments before a notice page is delivered
  • Belated charge elegance duration, if relevant
  • Collection notice times
  • Reimbursement applicability

Reputation codes

The application form is managed by the status that is following which determine loan applicability

  • Consumer status rule
  • Loan status rule
  • Name status code
  • AEL Collection Reputation

Deals

  • AEL Loan- New or borrowers that are existing submit an application for that loan.
  • Installment Payment – Borrowers will make their re re payments in http://installmentloansgroup.com/payday-loans-co installments.
  • Early Payoff – Borrowers could make complete repayment against a loan.
  • eposit- The solution immediately provides deposit deal when it comes to check that is collateral if letter re re re payments are due therefore the elegance duration is elapsed.