Loans are to be reversed when a user’s loan application has been approved and the loan amount disbursed into the user’s wallet but the user for any reason did not withdraw the loan amount. When a loan is reversed, the system checks the user’s wallet to confirm the amount disbursed is still complete before reversing the loan.
If the full amount disbursed is not in the user’s wallet, the loan reversal will fail. To reverse a loan;
- Follow the steps highlighted in the section above to locate a loan.
- Click on the “Reverse loan” button. A modal will be displayed to you.
- Enter the reason for reversing the loan and click “Submit”. The loan will be reversed and the funds in the user’s wallet returned to the disbursement account.
Reversing a loan