Updated: 6/1/11                                                                       

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SPECIAL INFORMATION FOR FRAZER TITLE PLEDGE USERS IN MISSISSIPPI

Mississippi regulations allow for both a declining payment schedule and a flat (or equal) payment schedule payments for customer repayment.  The payment schedules are quite different for each.  Many Frazer users have definite preferences for one or the other.  Below you can create a loan schedule for each to see the difference for yourself.

SPECIAL NOTE:  When using either schedule you must be sure to adjust your interest when customers pay down the principal early.  Non compliance can be expensive!

  MS DECLINING & FLAT RATE LOANS COMPARED
                         
  Change the rate and loan amount (in blue below) to see a comparison  
  between the two loan models.              
                         
  DECLINING
  RATE:   (Enter rate and loan amount then press tab)      
  LOAN AMOUNT:                  
    PAYMENTS CUMULATIVE          
  MO PRN INT PMT PRN-PAID P-BAL INT          
  1          
  2          
  3          
  4          
  5          
  6          
  7          
  8          
  9          
           
  Totals                
                         
  FLAT
  RATE:                    
  LOAN:                    
  PMT:                    
    PAYMENTS CUMULATIVE CUM INT PRN DIFF PMT DIFF
  MO PRN INT PMT PRN-PAID P-BAL INT DIFF MO CUM MO CUM
  1
  2
  3
  4
  5
  6
  7
  8
  9
  10
  Totals                

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