Author Topic: "Borrower has changed draft date" "Borrower will be mailing payment"  (Read 2313 times)

Houstoncory

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"Borrower has changed draft date" OR "Borrower will be mailing payment"

Ive noticed that whenever either of these two things are noted on the account, there is a very high chance of payment being missed on the next draft date.

Joe6Luck

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Re: "Borrower has changed draft date" "Borrower will be mailing payment"
« Reply #1 on: August 22, 2016, 06:56:55 PM »
Never saw these exact messages before (especially the first one. For the second one, I recall some message like that but they not exactly the same). Do you mind sharing the loan id?

Fred93

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Re: "Borrower has changed draft date" "Borrower will be mailing payment"
« Reply #2 on: August 22, 2016, 07:06:40 PM »
Yep. 

"The check is in the mail." 

These are sometimes used as excuses to get the bill collector off the phone.

Houstoncory

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Re: "Borrower has changed draft date" "Borrower will be mailing payment"
« Reply #3 on: August 25, 2016, 08:27:11 PM »
Joe6Luck,
Just look at any of your late notes or grace period notes.
Most likely 20-30% of them have this noted.

Houstoncory

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Re: "Borrower has changed draft date" "Borrower will be mailing payment"
« Reply #4 on: August 25, 2016, 08:39:21 PM »
Never saw these exact messages before (especially the first one. For the second one, I recall some message like that but they not exactly the same). Do you mind sharing the loan id?

Notice, this borrower typically paid on the 14th, but had some sort of cash shortage and changed payment date to the 28th for more time.

It didn't help enough, they still missed their next payment and are now 16-30 days late.


Debt Free

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Re: "Borrower has changed draft date" "Borrower will be mailing payment"
« Reply #5 on: August 29, 2016, 03:29:31 AM »
Might be as simple as a change of job, thus payday change.