Modifying a Payment Due Date
Sometimes a customer needs to have the due dates on their payments pushed back.
Click on the Buy Here/Pay Here tab in the center of the main screen.
Click to select and highlight a customer's name within the customer list, then click on Dealer Financing at the top of the screen. Select Modify Due Date from the pull-down menu. The system will then display the Modfy BHPH Loan Due Date options window.
Enter the new payment due date for the next payment.
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 Salesperson Maintenance screen. Finally, click the OK button to make the change.
When you change a customer's due date, the due dates of any subsequent payments 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.