Recording a repayment

Borrowers record payments; lenders confirm them.

  1. Open the loan and press I have made a payment (borrower) or Record a payment.
  2. Enter the amount, date, method and reference. Attach a receipt and, if you like, a voice note.
  3. Save. The payment shows as awaiting confirmation with a PAY- ID.

Only confirmed payments reduce the balance. The lender confirms each payment on the loan, or ticks several on Repayment Schedules and presses Confirm selected.

Mistakes

A lender can reverse a confirmed payment entered by mistake, with a reason. It stays in the history marked reversed.

Settling early

The borrower presses Settle Early to pay everything left. Once the lender confirms it, the loan closes.

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