Adjustments - Current Balance versus Payoff Balance

Adjusting how much a customer owes involves changing a contract's payoff balance and/or current balance by creating an adjustment. In this section we describe these two balances.

CAUTION: If you do not understand the difference between payoff balance and current balance, refer to Current Amount versus Payoff Amount.

Related Topics:

When Current Balance Equals Payoff Balance
When Current Balance Differs From Payoff Balance
Adjustment Type And Balances

Parent Topic: The Big Picture Of Adjustments