Re: Payments Made


The difference between the FirstPaymentDate and the LastPaymentDate gives me
the number of months that have passed since the contraction of the loan.
This should match the number of payments the client has made on the loan, if
not they have either missed a payment or made addition payments. I am
downloading many other fields that contain the account balance, principle,
interest, outstanding, and other information. The text file I get is
generated at a giving time and reflects the account balance and number of
payments received at that time. I really want to find the clients that are
in good standing and still own their loans.





Thanks,

Tim

"Chris2" <rainofsteel.NOTVALID@xxxxxxxxxxxxxxxxxxxxxxxxx> wrote in message
news:c8udnbz_a7-6VhHeRVn-uw@xxxxxxxxxxxxxx
>
> "tim" <hawk88gt@xxxxxxxxx> wrote in message
> news:C7ednUwMpKWUIBHenZ2dnUVZ_tmdnZ2d@xxxxxxxxxxxx
> > The FirstPaymentDate is the first payment made on the loan and the
> > LastPaymentDate is the last payment made on the loan and the
> > NumberofPaymentsMade is the number of monthly payments made on a
> loan. I am
> > trying to detirmine which clients have made all their monthly
> payments for
> > their loan period. From the same data below, I can figure out this
> > particular client has made 18 payments over a period of 18 months
> and
> > therefore has not missed a payment. Is it possible to do this with
> a query
> > with the available fields?
> >
> >
> > ClientID, 56898
> > FirstPaymentDate, 05/23/2004
> > LastPaymentDate, 10/27/2005
> > NumberofPaymentsMade, 18
> >
> > Thanks,
> >
> > Tim
> >
>
> Tim,
>
> I am definitely missing something here.
>
> I can see that there are 18 months between the dates given.
>
> However, I cannot see how you make the leap to "month between given
> dates" = "payment made" based on the data given, unless I make some
> assumptions.
>
> Assumption 1: Every month between the dates given indicates a
> payment having been made.
>
> Necessary Corollary: If the Last Payment Date has been made, the
> number of months between the two payment dates is equal to the
> number of payments made.
>
> By stating that the above sample data is all that is necessary to
> know whether all the payments have been made, then you only need to
> check and see whether the Last Payment Date has been entered or not.
> If it has been entered, all the payments have been made. If it has
> not been entered, the all of the payments have not been made.
>
> NumberofPaymentsMade becomes a calculated value that need not be
> stored in a table.
>
>
> Purely for my own curiosity, why bother with checking the number of
> payments made? Once the balance of the loan (including interest)
> has reached $0.00, that is the clearest indicator that all payments
> have been made that I can think of.
>
> Is this somehow related to monthly checking for past-due on a
> payment before the loan is completed? No, wait, the Last Payment
> Date has been entered, so that is over and the loan is done, except
> that you are checking to see if all payments have been made or not.
>
> How can the Last Payment Date be entered into the system when all
> payments have not yet been made? Won't monthly processing have
> flagged the loan as "in arrears"?
>
>
> Sincerely,
>
> Chris O.
>
> PS Although meant for an sqlserver newsgroup, the
> following link is still applicable for MS Access:
> http://www.aspfaq.com/etiquette.asp?id=5006, and
> is excellent when it comes to detailing how to
> provide the information that will best enable
> others to answer your questions.
>
>


.

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