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The Disbursement Processing Module is a highly complex component. It disburses client funds to creditors based on diverse criteria including: creditor requirements, loan types, client payment status, and fund availability. It channels payments to creditors rapidly, accurately, and fairly.
The Disbursement Engine manages payments to agencies for fees and other charges. Based upon the type of fee, funds may be drawn ahead of or after creditors.
Funds may be disbursed to creditors electronically via EFT or by check through the integrated check writer. EFT and check processes are independent, enabling separate schedules that allow EFT to run more frequently and the check process less often.
| Feature |
Benefit |
| Disbursement process may run daily |
Reduces time between client payment and disbursement to creditors |
| Tracks contractual obligators to identify clients at risk of dropping out |
Increases client retention |
| Enacts special disbursement process for clients that short pay. Pays creditors on rotation and disburses funds as soon as available |
Pays creditors fairly based on available assets. Funds are disbursed rapidly to keep clients in the program |
| Secured loans may be included in the program and disbursed when loans come due |
Allows clients to place all debts in the DMP, increasing retention and reducing likelihood of late payment fee |
| Supports bill or deduct fair share processing |
Meets creditor requirements |
| Tracks fair share limits and stops activity once limits are attained. Limits are based on individual creditor requirements. |
Eliminates over collection of fair share from creditors |
| Supports tiered fair share percentages based on disbursements or fair share contributions |
Enables accurate fair share activity for creditors with volume-based rate changes |
| Generates EFT files upon disbursement completion |
Enables rapid funds transfer to creditors |
| Check writer may be run as desired to print checks for non-EFT creditors |
Integrated check writer eliminates duplicate data entry and eliminates errors – the check process is separate from the EFT process |
| Special processing for agency fees. Fees may be collected ahead of or after creditor disbursements |
Enables agencies to define fee priority and collect payments accordingly |