My Oracle Support Banner

Error encountered when changing Principal Payment Start Date - 'Principal Payment Start Date - Payment Start Date must be later than Last Bill Due Date' (Doc ID 2560072.1)

Last updated on DECEMBER 03, 2019

Applies to:

Oracle Loans - Version 12.1.3 and later
Information in this document applies to any platform.

Goal

When attempting to change the principal start date of a loan in Interest Rate tab, the following error occurs.

ERROR
 
Principal Payment Start Date - Payment Start Date must be later than Last Bill Due Date.

Steps performed:

Example Loan -


1.  Create a Direct Loan
2.  Loan Start Date 01-JAN-2019
3.  Loan Term 12 Months
4.  Funded Amount 30,000.00 USD
5.  Amortization Method Separate Schedules
6.  Principal Payment Start Date 01-Mar-2019
7.  Interest Payment Start Date 01-Feb-2019
8.  Approved the Loan
9.  Made the Disbursement of the loan on 01-JAN-2019.
10.  Loan Status becomes "Active: Fully Funded"
11.  Submitted the concurrent request - LNS: Billing for the Due Dates - 01-FEB-2019 (Payment Number 1) and 01-MAR-2019 (Payment Number 2)
12.  Now the borrower approaches the lender to extend the Principal Payment Start Date to 01-JUL-2019
13.  The user is attempting to add a new row for Principal Start Date - 01-JUL-2019 and click apply
             Error Message is shown: 'Principal Payment Start Date - Payment Start Date must be later than Last Bill Due Date.'
 

Solution

To view full details, sign in with your My Oracle Support account.

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


In this Document
Goal
Solution
References


My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.