Remove a credit

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. Note the following when using this request:

This request will remove an existing credit. Removing a credit will update the loan's balance.

A credit differs from anadvancement. 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 a 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)

{
    "Credits": {
        "results": [
            {
                "__id": 372,
                "__destroy": true
            }
        ]
    }
}