Navigation:  Repayment Planner > Fine Tune Repayments

You will need to fine tune the repayment dates if the regular schedule needs to be modified in some way, or if some specific repayment amounts and dates are involved.

 

 

 

Situation One

Say you want a debtor to make regular payments every second Thursday (their payday) starting next Thursday and you need to calculate the regular amount they have to pay each time in order to fully pay the debt within three months.

 

This is easily solved without fine tuning. Simply enter the Frequency (Every 2 weeks) and enter the First repayment and Repay by dates.

 

The program will calculate the amount of each instalment.

 

Situation Two

Now, say that in addition to the above arrangement you also require the debtor to pay a separate lump sum of $1000 this Friday, plus an additional $2000 as a lump sum in 10 week's time when he says he will be receiving some additional money.

 

Fine tune the arrangement by ticking the Enter specific dates box. Then enter two records, one for the $1000 and one for the $2000. Also enter the payment dates. DO NOT tick Auto.

 

Situation Three

Now, say that as a refinement of the above, you don't require a regular Thursday payment in the week that the $2000 is paid. Therefore you need to remove the Thursday payment for that week.

 

Fine tune by clicking the Fine Tune button, then click Insert Schedule.

 

This will insert all the scheduled dates that you defined on the previous page. Each date will have Auto ticked. That is correct. It will also reset the schedule to 'None' so that dates are not repeated.

 

You can now delete the payment scheduled for that week.

 

In fact you can now add/delete any date you like.