Repayment using the dApp
One Page to payback all the active loans
Last updated
One Page to payback all the active loans
Last updated
Go to your Borrower profile
Click on the loan that you would like to pay
Choose whether you want to make a Minimum payment, Custom Amount, & Full payment
Borrower needs to go to this link https://mp.teller.org/profile/<borrowerWalletAddress>/borrower
All the users active loans & their status will be visible here (Example shown below) . This should help the borrower payback their obligations on time & ensure they have good payment behaviour in the Teller Protocol
On Time - Loan Payment has been made on time
Paid - The loan has been successfully paid
Due Soon - A payment is due in X days, please make a payment soon
Late Loans - The loan will be defaulted in X days, please make a payment soon
Defaulted Loans - This market considers a loan defaulted when payments are X days late
There are 3 options for payment of every loan
Pay Minimum Due - Pays the minimum required amount for the payment cycle, which ensures the borrower is not in default of the loan
Pay Full Amount Due - Pays the full amount due on the loan, which will ensure the entire loan obligation to the lender is paid back & the loan is closed from the books of the lender & borrower
Pay Custom Amount Due - Pays any custom amount that is between the Minimum Due & Full Amount Due
