How To Add Additional Debt To A Payment Arrangement
To transfer additional debt to an existing payment arrangement:
- Select the Contract ID of the existing payment arrangement.
- Select the debt to be transferred to the payment arrangement (by turning on/off the checkboxes adjacent to the Candidate Contract's amounts).
- Enter the number of Installments and the total Arrange Amount.
- Click the Create button.
Note:
After transfer. After transferring the funds to
the payment arrangement contract, confirm the account's payoff and
current balances make sense (the payoff balance is the total amount
of debt that the account will eventually have to payoff, the current
balance is how much they currently owe, i.e., the amount that credit
and collections monitors). The account's payoff and current balances
are displayed in the page's second section. If you do not understand
the difference between payoff balance and current balance, refer to Current Amount versus Payoff Amount.