Version 2012 As stated there is nothing odd about this loan. The only problem I see is my file was converted from MS Money. Is there any way to correct this or do I have to create a quasi-new loan picking up from the last payment.
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There were problems reported with loans converted from Money, though all I recall is that some users had to re-create their loans in Quicken.
Before messing around with your regular data, you can create a New (test) Quicken file and try setting up the loan from scratch there. If Q2012 gets it right in the test file, it should get it right in your regular file.
You can delete a "loan" but keep the loan liability account (Quicken asks during the loan delete process) which is what you want to do if the liability account is correct.
Property & Debt > Loan Details > Choose Loan > Delete Loan. Answer "Yes" to "Would you like to save the associated account for your records?"
You can create a new loan in the same Loan Details dialog. During that process, you should get asked if there is an existing loan account; you would answer yes and point Quicken to the correct account.