Charge Offs

Sharetec maintains all charge-off information related to a particular member, including the loan number, balance, doubtful percent, doubtful amount, officer, type, reason, and any notes. If you are fortunate enough to receive a recovery payment, you apply it to the loan just like any other payment using the transaction screen. In the event a member chooses to make amends and wishes to pay you back with interest, Sharetec accumulates that interest automatically on the loan record, making it a breeze for you to provide a payoff quote.