Add a Credit

This request adds a credit to an account.

   Click here to learn more about this request

Credits are used when a lender decides to forgive a portion of a borrower's loan. Many credits are used as promotional incentives or relief:

• A credit differs from an advancement. Credits function similar to payments, and they affect loan calculations. An advancement simply increases a loan's principal balance.
• Credits apply to the portions of a loan in the order that is determined by the paymentType in the payload.

For an example of how credits work within the UI, take a look at our Log an Advancement/Credit article on our help site.

Database

For information on credits database tables, see the following articles:

• Database – Loan Credit Entity (loan_credit_entity)
• Database – Credit Category Entity (credit_category_entity)

Sample Payload

{
    "Credits": {
        "results": [
            {
                "resetPastDue": 1,
                "date": "2022-05-06",
                "amount": "100.00",
                "paymentType": 1,
                "category": 1,
                "title": "Promo Credit"
            }
        ]
    }
}