Manage payments

The Manage Payments tool displays all transactions on a loan and lets you take action on individual payments — cancel a scheduled payment, backdate a payment to a different effective date, reverse a payment to return funds to the borrower, or change the status of an external payment. Use this tool to correct payment errors, process returned payments, or update the status of checks, wires, and money orders.

Availability: All clients Required permissions: transaction:cancel AND transaction:backdate AND transaction:reverse (all three required to access the tool). Individual actions within the tool also require transaction:update (to change status). Loan status: active, paidOff, or chargedOff Loan types: All

• Each payment row shows the effective date, status, instrument type and last four digits, and amount. Select a row to expand it and view additional details including the unique transaction ID.
• The available actions on each payment depend on the payment's status, type, and the loan's current status. Not all actions are available on every payment.
• Reversals, reimbursements, and canceled payments display with distinctive icons and cannot have further actions taken on them.
• External payments (check, wire, money order) cannot be reversed — use Change status instead.

1. From the agent-view Borrower Portal, open the loan and select Loan options > Manage payments.
2. The payment list displays all transactions sorted from newest to oldest.
3. Select a payment row to expand it and view details.

Canceling removes a payment that has not yet been processed. Only payments in scheduled status can be canceled.

1. From the payment list, select a payment in Scheduled status.
2. Select Cancel scheduled.
3. Optionally enter a Cancel reason.
4. If your company requires a Case ID, select a case from the Case ID dropdown. See Global behaviors — Case ID requirement.
5. Confirm the cancellation.

The payment status changes to canceled. The canceled payment displays with a cancellation icon in the payment list.

Eligible payments: Status is scheduled, loan status is active, accelerated, or chargedOff, and the payment is not a reversal or reimbursement.

Backdating changes the effective date and time of a payment. The system replays the loan as if the payment occurred at the new date, which can affect interest calculations and obligation fulfillment.

1. From the payment list, select a payment in Succeeded or Pending status.
2. Select Backdate.
3. Select a new Effective date and time. The date must be between the loan start date and today.
4. If your company requires a Case ID, select a case from the Case ID dropdown.
5. Confirm the backdate.

The system replays the loan from the new effective date. This process can take several minutes.

Eligible payments: Status is succeeded or pending, loan status is active, accelerated, or chargedOff, and the payment is not a reversal or reimbursement.

Reversing a payment creates a new reversal transaction and returns funds to the borrower's original payment instrument. The loan balance increases as if the original payment never happened.

1. From the payment list, select a payment in Succeeded status.
2. Select Reverse.
3. Select the reversal amount:
   • Full amount — Reverses the entire payment amount (displayed as a read-only value).
   • Other amount — Enter a custom amount. The amount must be greater than zero and cannot exceed the full payment amount.
4. If your company requires a Case ID, select a case from the Case ID dropdown.
5. Confirm the reversal.

Successful reversals may take 5–10 business days to appear in the borrower's bank account or card. Reversals can fail for reasons outside Peach's control (for example, a closed bank account). Failed reversals cannot be retried.

Eligible payments: Status is succeeded, effective amount is greater than zero, payment type is not check, wire, or money order, loan status is active, accelerated, or paidOff, and the payment is not a reversal or reimbursement.

Important: If the loan is paid off, you can reverse payments for up to a configurable number of days after the payoff date (typically 30 days). This is controlled by the durationReversePaymentsAfterPaidOff setting on the loan type.

For external payments (check, wire, money order), you can manually update the payment status to reflect whether the payment succeeded or failed. External payments cannot be reversed — use this action instead.

1. From the payment list, select an external payment.
2. Select Change status.
3. Select the new Status from the dropdown. The available options exclude the payment's current status.
4. If you selected Failed, select a Failure reason from the dropdown.
5. Confirm the status change.

Eligible payments: Payment type is check, wire, or money order (isExternal is true), loan status is active, accelerated, chargedOff, or paidOff.

• Agent-only loan tools
• Issue and manage credits
• Apply external payments
• Reimburse a borrower