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Disbursement Processing
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Home > Product > Components > Disbursement Processing

The disbursement module is a highly complicated component that disburses client funds to creditors based on a wide variety of criteria including creditor requirements, loan types, if the client is current or behind on payments and when funds are available for disbursement. All of this is focused on getting the funds to the creditors as rapidly, accurately and fairly as possible.

The Disbursement engine also manages disbursements to the agency for fees, and other charges. Based on the type of fee, the funds can be pulled ahead of creditors or after creditors.

Funds can be disbursed to creditors electronically via EFT or by check through the integrated check writer. EFT and Check processes are independent so each can be run on separate schedules allowing the EFT process to be run more frequently and the check process less frequently.

Features and Benefits

Feature

Benefit

Disbursement process can run each day Reduces time between Client payment and disbursement to creditors
Tracks contractual obligations to identify clients at risk of dropping out Increases client retention
Special disbursement process for clients that short pay. Pays creditors on a rotation basis and disburses funds as soon as available Pays creditors fairly based on available funds. Funds are disbursed as rapidly as possible to attempt to keep the client on the program.
Secured loans can be included in the program and disbursed when loans are due Allows client to place all debts on the DMP to increase retention and reduces the likelihood of late fee charges.
Disbursement is a two phase process (calculate disbursement and post disbursement activity) Allows users to audit disbursement results before committing results.
Supports Bill or Deduct fair share processing Meets the requirements of creditors
Tracks fair share limits and stops fair share activity when limits are reached. Limits are based on individual creditor requirements. Eliminates over collection of fair share from creditors
Support Tiered fair share percentages based on disbursements or fair share contributions Enables accurate fair share activity for creditors whose fair share rates change based on volume.
Generates EFT file upon completion of Disbursement Enables rapid funds transfer to Creditors.
Check writer can be run as desired to print checks for non EFT creditors Integrated check writer eliminates duplicate data entry into other applications and eliminates errors. The check process is separate from the EFT process.
Provides special processing for agency fees. Fees can be collected ahead of or after creditor disbursements Enables agency to define the priority of Fees and collect fee payments accordingly.