Change Customer of a LD contract
- channa_lk
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13 years 1 month ago #9026
by channa_lk
Change Customer of a LD contract was created by channa_lk
An existing LD customer has been taken over by another customer along with all the loan portfolios.
This has resulted in the bank having to transfer all his existing LDs to the new customer.
How do we do this?
Should we close the existing LD and create a new LD with the new customer ID?
If so .... how do we transfer the accrued interest of the old LD to the new LD?
This has resulted in the bank having to transfer all his existing LDs to the new customer.
How do we do this?
Should we close the existing LD and create a new LD with the new customer ID?
If so .... how do we transfer the accrued interest of the old LD to the new LD?
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- jpb
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13 years 1 month ago #9029
by jpb
Replied by jpb on topic Re: Change Customer of a LD contract
As you can't change the customer in LD there's no other way.
Close the old LD using a interim account and create new LD with value date set to the last interest payment of the old (using same interim account and amending it afterwards).
(Should work, we did something alike when moving from MM to LD)
Close the old LD using a interim account and create new LD with value date set to the last interest payment of the old (using same interim account and amending it afterwards).
(Should work, we did something alike when moving from MM to LD)
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- DUBLIN
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13 years 1 month ago #9042
by DUBLIN
Replied by DUBLIN on topic Re: Change Customer of a LD contract
If it's not too late...
I would also reset interest rate to 0 from the last Interest Payment date in the OLD deals .
It would allow you do not mess with interest payment when you early matured the "old" deals.
I would also reset interest rate to 0 from the last Interest Payment date in the OLD deals .
It would allow you do not mess with interest payment when you early matured the "old" deals.
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