---
title: "Fees, Assets, Holds and Defaults"
canonical: "https://bizcore.refined.site/space/BCKB/1809383425/Fees%2C%20Assets%2C%20Holds%20and%20Defaults"
format: markdown
---
> Macro (toc)
# **Overview**
These widgets can be found on each Loan Workspace Record and offer information and functionalities to manage and service the associated loan. From within each customer's loan users can click the widgets to expand and view more details or use the available tools:
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# **Fees**
Click to expand the Fees widget to see all fees associated with the loan:
Each fee applicable to the loan will be displayed, below is an outline of what each column heading refers to:
| **Column Heading** | **Description** |
| --- | --- |
| Fee Name | Name that is given to the fee when created on the respective loan product. |
| Fee Type | This refers to the category that each fee belongs to. For more information regarding different fee types, check the [Loan Product Setup page](https://bizcore.refined.site/space/BCKB/1776680977/Loan+Product+Setup#Fee-Types-Explained). |
| Value | The amount or percentage, based on the loan value, associated with each fee. |
| Outstanding | Represents the outstanding amount of the fee type that is currently owed as part of the loan balance. Note that upfront fees, as they are included in the principal amount, do not have a separate fee balance displayed. |
| Is on Hold? | Shows if there is an active hold on the fee type. |
> ℹ️ Once a loan is set up, the fees cannot be changed. Any modifications made to the fee structure in the loan product settings will not be applied to loans that have already been created. It's important to ensure that the desired fee structure is configured correctly before creating the loans.
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# **Assets**
To view existing assets used as collateral on this loan or add new ones, click to expand the Assets widget. This will provide users with an overview of the assets associated with the loan, including details such as the asset type, description, and value:
## Asset Status
The Asset Status field shows the current PPSR registration status of the asset (for example, Registered).
Click the pencil icon next to it to edit the status.
![change-asset-reg.gif]()
Below is a description of what each asset status means:
| **Status** | **Description** |
| --- | --- |
| Registered | This asset has been registered with the Personal Property Security Register (PPSR). |
| Chasing | A repossession agent is attempting to repossess the asset. |
| Repossessed | The asset has been repossessed. |
| Selling | The lender is attempting to recoup funds owed by selling the asset. |
| Sold | The asset has been sold. |
| Written off | The asset has been written off, usually due to an accident/mechanical failure or sold by the owner. |
| Discharged | The security interest registered against this asset has been formally released, and the registration has been removed from the PPSR. |
> ℹ️ There is no limit to the number of assets that can be included in the Asset section.
## **Asset Valuation**
Click the pencil icon next to Latest Valuation to open the Asset Valuation form and add a valuation for the asset.
1. Select the Vehicle Valuation Type from the dropdown (for example, TradeIn).
2. Enter the Valuation Amount.
3. Enter the Valuation Date.
4. Enter Valued By, if required.
5. Click Submit to save the valuation, or Cancel to close the form without saving.
---
# **Holds**
To see the available holds, expand the Holds widget by clicking on it:
Holds can be used to pause any automated processes associated with the loan. Click the toggle to enable or disable the respective hold:
Hover over the Info :info: icon to see a history of when the hold was enabled or disabled:
The types of Holds available for loans in Biz Core are explained below:
| **Hold Type** | **Description (while hold is enabled)** |
| --- | --- |
| Payments | Any scheduled repayments will not be processed. |
| Automatic Rescheduling | Declined/missed payments are not rescheduled to the end of the loan.
> ℹ️ Enabled by default. |
| Automatic Refresh Bank Statement when Transaction is declined | Bank statements will not be refreshed when a repayment is declined.
> ℹ️ Must be integrated with Illion Bank Statements or Credit Sense, and incurs a fee with each refresh. |
| Fee Types | Each fee that is automatically charged will each have its own hold toggle, for example: dishonour fees or interest. When enabled the respective fee will not be charged. |
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# **Defaults**
Biz Core will allow users to record any defaults that occur while servicing the loan. Click the Default widget to expand it and view the existing or add a new default listing:
Existing defaults will show the amount listed and date it was added. To remove an existing default, click the **Trash **:cross_mark: icon:
To add a new default, click the **Plus **:plus: icon, enter the amount and click the **SAVE **button:
