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: Installment loans and lines of credit, not individual draws
- Loans are typically accelerated automatically. Daily Loan Maintenance (DLM) accelerates an active loan when its days overdue reach the loan type's acceleration threshold. 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 the options menu > Accelerate. The options menu label uses the loan's asset name, for example Loan options, or Account options when the loan has none.
- Review the current loan balance displayed on the form.
- Leave Effective date set to today. The date picker allows dates from the loan start date through today, but Peach accepts only today's date.
- Send notice to borrower is checked by default. To skip the borrower notice, clear the checkbox.
- 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 loan's outstanding total across all balance states (outstandingBalances.outstandingTotalAmount). | — | Read-only display |
| Effective date | The date the acceleration takes effect. | Yes | Date (default: today). Peach accepts only today's date. |
| Send notice to borrower | Sends the borrower a notice about the acceleration. Peach doesn't send this notice when the loan type's acceleration and charge-off thresholds are equal. | No | Checkbox (default: checked) |
| Case ID | The case associated with this action. | Conditional | Select from Open cases or Closed/canceled cases. Required when forceCaseIdOnAgentActions is enabled. |
When Peach processes an acceleration, it moves the loan's principal, interest, and fee balances from non-due, due, and overdue to non-accrual (nonAccrualBalances). The fees that move are late, draw, origination, modification, and membership fees. They appear together in nonAccrualFeesAmount.
After acceleration, Peach stops accruing interest and stops charging service, membership, and late fees through DLM.
If the loan already has a non-accrual balance, acceleration moves nothing.
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 the options menu > Reverse accelerate.
- If your company requires a Case ID, select a case from the Case ID dropdown. See Global behaviors — Case ID requirement.
- Select Reverse accelerate.
The loan status changes back to active.
After you reverse an acceleration, DLM can accelerate the loan again or charge it off. DLM can do this as soon as the next daily run, once the loan's days overdue reach the loan type's thresholds. Both steps can happen in one run. DLM charges off the loan only when no non-due, due, or overdue balance remains.