News
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 […]
Important notification regarding the Apache “Log4j2” vulnerability
Please note that Margill products have not been impacted by the Apache “Log4j2” vulnerability. The Margill Team wishes you all a very Happy New Year 2022!
Happy Holidays!
The entire Margill team wishes you, in spite of the current exceptional situation, a very Happy Holiday Season. May 2022 be filled with happiness and health!
I am often faced with paying late alimony, and I want to be sure that the interest calculations they are hitting me with are correct. Can Margill Law Edition help me out?
Question: I am often faced with paying late alimony, and I want to be sure that the interest calculations they are hitting me with are correct. I pay 4% simple interest only on late or fractional payments. I am testing your software right now, and if I am say $500 short but pay it within […]
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 […]
Is Margill Interest calculator or Margill Law calculator able to create a compound interest calculation with irregular payments and interest rates that change over time?
Q: Is Margill Interest calculator or Margill Law calculator able to create a compound interest calculation with irregular payments and interest rates that change over time? So is my understanding correct that your software will be able to work out the balance owing in terms of an overdue loan with compounded interest based on the following […]
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 […]