Accelerating a loan makes the entire outstanding balance due immediately. Use this tool when a loan must be manually accelerated — for example, after an approved bankruptcy case. To undo an acceleration that was applied by mistake, use the reverse acceleration tool.
Availability: All clients Required permissions: loan:accelerate (to accelerate); loan:accelerate.reverse (to reverse) Loan status: Accelerate requires active; Reverse accelerate requires accelerated Loan types: All
- Loans are typically accelerated automatically by the system after a configurable number of days in overdue status. Manual acceleration is for cases where you need to override or preempt that automatic process.
- Accelerated loans stop accruing interest. The full outstanding balance becomes due immediately.
- If the outstanding balance is not paid after acceleration, the loan may be charged off. See Charge off, update details, and reverse charge-off.
- From the agent-view Borrower Portal, open the loan and select Loan options > Accelerate.
- Review the current loan balance displayed on the form.
- Enter an Effective date for the acceleration. By default this is set to today.
- Optionally select Send notice to borrower to email the borrower.
- If your company requires a Case ID, select a case from the Case ID dropdown. See Global behaviors — Case ID requirement.
- Select Accelerate.
The loan status changes to accelerated. The acceleration appears in the borrower's Activity view.
| Field | Description | Required | Values / Format |
|---|---|---|---|
| Loan balance | The current outstanding balance of the loan. | — | Read-only display |
| Effective date | The date the acceleration takes effect. | Yes | Date (default: today) |
| Send notice to borrower | Sends an email to the borrower about the acceleration. | No | Checkbox |
| Case ID | The case associated with this action. | Conditional | Select from open cases. Required when forceCaseIdOnAgentActions is enabled. |
If a loan was accelerated by mistake, you can reverse the acceleration to return the loan to active status.
- From the agent-view Borrower Portal, open the accelerated loan and select Loan options > Reverse accelerate.
- Select Reverse accelerate.
The loan status changes back to active.
Important: If you reverse the acceleration and the loan has an overdue balance, the system may automatically re-accelerate the loan if the overdue balance is not resolved the same day.