Freeze Borrower Accounts

If one want to Freeze a Borrower Account in Lendysoft one simply navigates to the Account listing and click the menu on the row one want to freeze and click the option "Freeze Account".

One will be greeted with the following modal window:

If a User clicks "Confirm" the Account will receive the status "Frozen".

When an Account is set as Frozen the system will:

• Cancel all outstanding invoices related to the Account that is Frozen.
• Exclude the Account from Jobs that send new Invoices
• Exclude the Account from jobs that apply Reminders, Inkasso and KFM (Swedish collection agency) fees to the account.
• Exclude the Account from jobs that capitalize interest and fees
• Exclude the Account from jobs that apply received customer payments toward the account/invoice.

The account will run all the remaining jobs as usual this includes:

• Job that applies Accrued Fees
• Job that applies Accrued Interest
• Job that applies late interest

A Frozen Account is displayed with a Frozen tile in the Account Status Column: