Modify Guarantors or Collateral

This option is used when you need to modify Guarantor or collateral for various Client Loans. For example, when one of the guarantors changes physical address which has to be updated so as to easily locate the guarantor in case of default in payment of a loan by a client.

Note:
A guarantor may also choose to withdraw his guarantee to a borrower that may need replacement of a guarantor for the client or there may arise a need to add another guarantor who may not have been captured in the loan guarantor details earlier. This can be done in this menu..

How to Modify Guarantors or Collateral

To Modify Guarantors or Collateral you go to loans\Modify Guarantors or Collateral. A screen like one below appears:

Loan Number: Select the Loan number to be modified from the List of Loan numbers displayed in the lower part of the Modify Guarantor and Collateral screen as shown above. You can highlight the client on the grid and the details will automatically be displayed like the Loan Number e.g. "KA/002728" and Client Name e.g. "Mukuka Robert Mwaba" in their respective fields: (Ind) at the front of the client shows the type of client. In this case it is an individual client.

1st Guarantor: Click on the drop down box to select a Guarantor already registered under Clients/Loan Guarantors. In case the guarantor is an existing client, then first tick "Is an existing client" box then click on the drop down box to select a guarantor. The same applies for 2nd and 3rd guarantor if required.

Collateral 1: Enter the Name of the collateral presented in Collateral 1 text box e.g. Vehicle and Hoses with their corresponding value in the Value text box e.g. "15,000" and "20,000" respectively. The same applies for Collateral 2-4 and there corresponding values.

Click the Update button to have the Loan Guarantors and Collateral Modified for the selected loan number. A screen like one below will pop up showing the captured details and prompting the user to continue. Select yes to complete the modification.

You should be able to see this updated Loan Guarantors and Collaterals under Portfolio Reports/Guarantors and Collateral Report

Contact LPF live support for more information
This service requires an Internet connection.

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Table of Contents (Online Help)

Modify Guarantors or Collateral

Note:
A guarantor may also choose to withdraw his guarantee to a borrower that may need replacement of a guarantor for the client or there may arise a need to add another guarantor who may not have been captured in the loan guarantor details earlier. This can be done in this menu..

Contact LPF live support for more information
This service requires an Internet connection.

www.loanperformer.com

Table of Contents (Online Help)

Modify Guarantors or Collateral

Note:A guarantor may also choose to withdraw his guarantee to a borrower that may need replacement of a guarantor for the client or there may arise a need to add another guarantor who may not have been captured in the loan guarantor details earlier. This can be done in this menu..

Contact LPF live support for more informationThis service requires an Internet connection.

Note:
A guarantor may also choose to withdraw his guarantee to a borrower that may need replacement of a guarantor for the client or there may arise a need to add another guarantor who may not have been captured in the loan guarantor details earlier. This can be done in this menu..

Contact LPF live support for more information
This service requires an Internet connection.