We have begun to switch the customers from our old software to Title Loan Professional. Am I correct in using the pay off from the previous software as a current balance?
In most states you can't convert interest to principal, so the best method is to collect all current fees and interest from the client, then do a new loan with the loan amount being the principal due from the old system, printing a new contract with the actual date the new contract is done with Title Loan Professional PLUS.