TO: Gary Leiker. UCCC

FROM: Dave Boal

RE: Response to Report of Examination of:

XXXXXXXXXXXXXXXXX

License: XXXX

XXXXXXXXXXXXXXX

XXXXXX, XX  XXXXX

DATE: 7/15/99

DEBTOR LOGS ARE AVAILABLE AS REQUIRED BY RULE 10, SECTION 17, IN PAYDAY PLUS SOFTWARE VERSION 5.6!

Debtor Logs can be accessed 2 different ways, one through  1. Customer History, a printed report and 2. List Option of the Contract Data Entry Screen, onscreen.

1. Customer History:

Customer History is option 33 on the Contract Menu.

All contracts written, together with associated transaction history (including extensions, rollovers, payments received, returned items, additional fees, and writeoffs) are printed for one individual customer for the specified starting and ending dates.

Please note that on the following report, extensions are recorded as 0.00 balance deposits. The deposit is entered on the date that the contract was originally due to be paid back and the new Payback Date with the date that the contract is extended to.

The following is a sample of a Contract History report for customer, "Don Brown":

07/16/99 CUSTOMER HISTORY Pg.1
PAYDAY LOAN COMPANY
Customer History for 555-55-5555 BROWN, DON
For the Period 01/01/80 - 07/16/99

     Contract# Date     Princ.   Fee       Payments Other    Writeoff Current   Current  OurChk#    CustChk#
                                          Received Charges           BalaDue  Payback   (0=Cash)   (0=Cash)
*** ********** ******** ******** ******** ******** ******** ******** ******** ******** ********** **********
ADV 4058       07/08/99   100.00     25.00    25.00     0.00      0.00     0.00 07/24/99 6004        353
    DEPOSIT    07/22/99     0.00 - Renewal/Extension
    DEPOSIT    07/24/99   -25.00 - Paid By - BROWN, DON Check# 0 (0=Cash) - PAID OFF by NEW Contract
ADV 4059 07/24/99 0.00 25.00 0.00 0.00 0.00 125.00 08/07/99 0 359

 

The following is the same report as the one above, with italic comments inserted to explain the content:

07/16/99 CUSTOMER HISTORY Pg.1
PAYDAY LOAN COMPANY
Customer History for 555-55-5555 BROWN, DON
For the Period 01/01/80 - 07/16/99

     Contract# Date     Princ.   Fee       Payments Other    Writeoff Current   Current  OurChk#    CustChk#
                                          Received Charges           BalaDue  Payback   (0=Cash)   (0=Cash)
*** ********** ******** ******** ******** ******** ******** ******** ******** ******** ********** **********
ADV 4058       07/08/99   100.00     25.00    25.00     0.00      0.00     0.00 07/24/99 6004        353
- This contract was paid off with by next contract# 4059. Note that the principal on contract #4059 = $0.00, the fee = $25.00, and the balance Due = $125.00

    DEPOSIT     07/22/99     0.00 - Renewal/Extension
- This deposit in the amount of $0.00, represents the extension of the contract from the original due date of 7/22/99 to the current payback due date of 7/24/99.

    DEPOSIT     07/24/99   -25.00 - Paid By - BROWN, DON Check# 0 (0=Cash) - PAID OFF by NEW Contract
- This deposit in the amount of $25.00, represents the receipt of cash (Check#=0) on 7/24/99.

ADV 4059       07/24/99     0.00     25.00     0.00    0.00       0.00   125.00 08/07/99 0           359
- This is the contract that paid off previous contract# 4058. Note that the principal on contract #4059 = $0.00, the fee = $25.00, and the balance Due = $125.00

 

2. List Option on the Contract Data Entry Screen.

...displays the following screen:

This screen shows the Current Payback due date on contract 4058 is 7/24, but that it was paid off with 2 deposits. One deposit was for 0.00 on 7/22. This deposit record represents an extension from 7/22 to the new payback date of 7/24. The second deposit record on 7/24 shows a payment of $25.00 in cash (Payoc=0). Since the balance due on contract 4058=0.00, you can assume that the contract was paid off by a new contract, and in fact you can see that the next contract for this customer 4059. The Principal charged on the new contract = 0.00 (PRCH) and the balance due on the new contract = 125.00.

* Please note that the list screen displays all relevant information about any account. There are 5 windows of related data on this screen. For any contract highlighted in the LOAN window, associated records are displayed in the DEPOSIT, RETUITEM, OTHER, and WRITEOFF windows. In the above example contract 4058 is highlighted in the LOAN window and thus the associated DEPOSIT windows contains only deposits associated with contract 4058.

Therefore, it is the opinion of Payday Plus Software, Inc. that both of these 2 methods of presenting "Debtor Log" information satisfy Condition 17 of Rule 10. Specifically the information includes Debtor Name, Date of all loans made to debtor, Due Date, Actual Payment Date, Method of payment (check deposited, exchange of cash for check, refinanced, extended or rolled).

Gary, please contact me if this documentation does not fully explain, to your satisfaction, how our software meets UCCC debtor log requirements.  Thank you!