You signed in with another tab or window. Reload to refresh your session.You signed out in another tab or window. Reload to refresh your session.You switched accounts on another tab or window. Reload to refresh your session.Dismiss alert
Right now, at the moment of default, we do not distribute the interest for the upcoming pay period. However, when the user calls makePayment(), the system will call updateDueInfo(), if there are multiple pay periods passed since the default, the system automatically distribute the fees&Interest generated in the pay periods after default. The system has difficult to figure out when to distribute the period that we did not distribute income (at the moment of default).
We should handle them in exactly the same way: do not distribute any fees&interest starting from the moment of default until the principal wrote off is fully paid off. Only after that, the payments can be applied towards the fees&interest generated since the moment of default.
The text was updated successfully, but these errors were encountered:
Right now, at the moment of default, we do not distribute the interest for the upcoming pay period. However, when the user calls makePayment(), the system will call updateDueInfo(), if there are multiple pay periods passed since the default, the system automatically distribute the fees&Interest generated in the pay periods after default. The system has difficult to figure out when to distribute the period that we did not distribute income (at the moment of default).
We should handle them in exactly the same way: do not distribute any fees&interest starting from the moment of default until the principal wrote off is fully paid off. Only after that, the payments can be applied towards the fees&interest generated since the moment of default.
The text was updated successfully, but these errors were encountered: