interest pause – Vertican

Interest Pause in Collection-Master – What You Need to Know (Revised)

By britbyrnes|2021-06-28T15:51:02-04:00September 4th, 2020|collection- master, Stimulus, Town Halls, vForum|Comments Off on Interest Pause in Collection-Master – What You Need to Know (Revised)

Since the initial presentation, Vertican has found an issue in the instructions in the Collection-Master Interest Pause Town Hall. It suggested that when building the [3-2] report to pull N46 (Interest Due). However, STORED_INT is meant to be the Total Interest Accrued on the claim. This value then subtracts payments made to interest giving you the Total Interest Due. If interest was paid prior to [2-S-5] Interest Swap program, then the CM EDI instructions to re-activate interest will cause the interest to go negative. In the condition there were no payments to interest prior to the [2-S-5] Interest Swap [...]

Interest Pause in Q-LawE & Q-Law – What You Need to Know

By britbyrnes|2021-06-28T16:44:04-04:00March 30th, 2020|Q- Law, Stimulus, Town Halls, vForum|Comments Off

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 [...]