Only the contract originator, generally the lender, can deactivate an active loan contract.
Deleting a loan contract can be completed by the loan originator or the primary lender. ZimpleMoney does not delete the loan contract because most lenders need to see the contract file after the loan is removed or deactivated. So we call it "Deactivate," and it stops the accrual of interest and email alerts and event notifications.
Deactivating a Contract
Deactivating a loan closes the contract and stops all future electronic payment collection. Once deactivated, the contract cannot be reactivated without ZimpleMoney support. Contract parties can still view the loan and make manual entries while it's inactive.
Deleting a Loan
Deletion is a separate, more permanent action from deactivation — contact ZimpleMoney by emailing support@zimplemoney.com directly if you need a contract fully removed from your account rather than simply closed.