Interest Pause in Q-LawE & Q-Law – What You Need to Know
We’ve been closely monitoring how the COVID-19 virus has been impacting our clients and community. Additionally, we have learned that some jurisdictions are requiring creditors and law firms to cease charging interest during this time. If this is one of the changes you must implement, we are here to help educate you on the interest pause in Q-LawE and Q-Law.
As a result, Vertican recently offered some relief to issues the pandemic may have caused to your business with the first of our Q-Law Town Hall Meetings.
In this town hall, Vertican Client Service Team Lead, Michelle Samlaska, showed how to use a report and State Variable Interest Rate Update tool to change the interest rate to 0.00 percent in Q-LawE and Q-Law. There was also a discussion the ways and means to retain and convert the rate back to the correct interest rate once you are given permission to do so.
Did you attend our Q-Law Town Hall? Let us know your thoughts in the comments section below.
Access the presentation here and view the recording of Town Hall here.
How has the interest pause affected your business? Feel free to comment or ask us questions about the interest pause in Q-LawE and Q-Law in the comment section below – we want to hear from you.
vForum is an open line of communication between our clients and Vertican. For our Town Hall event schedule click here.
Finally, be sure to stay tuned or more information on a Stimulus Package Vertican will soon be offering. Vertican considers our clients to be partners and realizes that now, more than ever, we need to work together through this complicated time.