Payment Start Date Must Be Greater Than Last Bill Due Date (Doc ID 1982060.1)

Last updated on MARCH 10, 2017

Applies to:

Oracle Loans - Version 12.2.2 and later
Information in this document applies to any platform.

Symptoms

When changing the rate on unbilled installments, on a variable rate loan, the following error occurs:


Error Payment Start Date must be greater than Last Bill Due Date


Steps to Reproduce:

Responsibility: Loan Agent
Navigation
: Loan Dashboard

  1. Created a loan today (12-Jan-2015)
  2. Used 07-Jan-2014 as the Loan Start Date
  3. Loan term is 1 Year
  4. Interest Rate type is Variable
  5. Used 10 as interest rate for installments 1 to 12
  6. Approved the Loan
  7. Added another interest rate 12% for installments 5 - 12, no errors
  8. Run the Billing Program to bill the first installment
  9. Tried to change the interest for installments 5 - 12 from 12% to 11%, get the following error:

    Error Payment Start Date must be greater than Last Bill Due Date
    - The payment start date = 07-FEB-2014
    - The due date for the last bill is 07-FEB-2014

Cause

Sign In with your My Oracle Support account

Don't have a My Oracle Support account? Click to get started

My Oracle Support provides customers with access to over a
Million Knowledge Articles and hundreds of Community platforms