Recovery of Loan(s)

Recovery of Loan(s) and/or Debt(s) After the Election Date

Total payment of loan (when remaining balance is equal to or greater than loan amount):

Create a negative receipt on the contribution form for the amount of the candidate loan repayment. Designate the Contributor Type Code as “19 Other” and Contribution Type Code as “2 Loan”. Edit the existing loan record by creating a payment that will make the loan balance zero.

Partial payment of loan (when remaining balance is less than loan amount)

Create a negative receipt on the contribution form for the amount of the partial candidate loan repayment. Designate the Contributor Type Code as “19 Other” and Contribution Type Code as “2 Loan”. Edit the existing loan record by creating a payment that equals the amount of the partial candidate loan repayment. (This amount will be the same total used in the negative receipt above).

This will continue until the loan has been paid in full.

Total payment of debt not designated as a loan (when remaining balance is equal to or greater than debt amount):

Create an expense on the Expense form for the amount of the debt. In the Disbursement description field, state that it is payment in full on “ABC” debt. Edit the existing “ABC” debt record by creating a payment that will make the debt balance zero.

Partial payment of debt not designated as a loan (when remaining balance is less than debt amount)

Create an expense on the Expense form for the amount of the partial candidate debt repayment. In the Disbursement description field, designate the transaction as partial payment on “ABC” debt. Edit the existing “ABC” debt record by creating a payment that equals the amount in the Expenses record.

This will continue until the debt has been paid in full.