Loan Manager – Latest Posts

On a $1000 loan at 20% interest, why is my interest not $200 for one year?

Q: On a $1000 loan at 20% interest, why is my interest not $200 for one year? A: This is a common question that we often get and some information is missing to answer the question so we’ll analyse this, taking into account various scenarios and how to manage this in Margill Loan Manager. There is […]

Margill Loan Manager: Amount Due at current date or any date to “get back on track”

A most appreciated feature in Margill Loan Manager (MLM) is its quick access to four variables, accessible in the reports or in the Main window, that allow the user to instantly see the amount that must be paid by the Borrower to “get back on track” if one or several payments are missed, partial or […]

Webinar – What’s New in Version 5.3

In this webinar, we are looking into what’s new in version 5.3 including increased automation and customization. This is followed by a sneak peek at upcoming version 5.4 (available in November 2021), again with new automation aspects as well and many features you asked for. Finally, we go over some aspects of the software that […]

How can I mass import “Unpaid” payments with an Excel sheet in Margill Loan Manager? I need to obtain the Outstanding payment amounts.

Question: How can I mass import “Unpaid” payments with an Excel sheet in Margill Loan Manager? I need to obtain the Outstanding payment amount too. Answer: Usually, when payments are NOT made (so were skipped or the payments returned for non sufficient funds (NSF), on a historical basis, these would simply be ignored and only […]

What’s criminal? Lenders beware – amendments to Criminal Code under Bill C-274

An Act to amend the Criminal Code Bill-C-274 (the Bill) entered first reading in the House of Commons on May 11, 2021. The Bill would amend1 the definitions of “criminal rate” and “interest” in subsection 347(2) of the Criminal Code, while also repealing section 347.1, which had allowed certain exceptions for payday loans. The Bill will be […]

In the Loan Manager, is it possible to change a payment date for all loans at the same time?

Q: In the Loan Manager, is it possible to change a payment date for all loans at the same time? For example, I want to change the date from March 26 to March 27? A: This can be done in batch but each date will have to be modified. You can do this for “Due […]

Webinar – What’s new in Margill Loan Manager 5.2

Last February 11, 2021, the Margill Team held a webinar to introduce the new features of the Margill Loan Manager software, version 5.2. For those who have missed it or if you wish to see it again, here it is:  

I would like to convert 7500 of accrued interest to principal. Can this be done in Margill Loan Manager?

Question: I would like to convert 7500 of accrued interest to principal. Can this be done in Margill Loan Manager? Answer: Certainly with special Line statuses. First, go to Tools > Settings: Make sure “Interest paid” is available (not checked to Hide from menu) as well as an “Add. Principal X” Line status. We will […]

Webinar – What’s new in Margill Loan Manager 5.1

A host of new features have been introduced with the launch of Margill Loan Manager 5.1. New features are fun but you need to know they exist. We’ve hosted a 30-minute webinar in which we have explored these new functions.  

How can I create a schedule where I can see the interest that accrues on a daily basis, every day?

Q: My law firm must calculate the interest from June 30, 2019 to May 28, 2020 on an amount due by an insurance company. I must be able to see the interest that accrues every day. Interest rate is 4% annually and amount is 150,250.33. A: In Margill Law Edition, you would usually use the […]