Using Debt Fee Percentage

This article describes how to enable and use the Custom Debt Fee Percent feature within the FORTH CRM. It is organized into the following sections:

• Overview

• What’s new

• Enable the Feature

• Apply a Custom Fee Percent

Overview

The Custom Debt Fee Percent feature is designed to give you greater flexibility and precision when negotiating settlements. It allows your organization to define and apply a specific fee percentage to an individual debt, overriding the standard Earned Performance Fee (EPF) typically determined by a client's enrollment plan.

What's New

The FORTH CRM has a dedicated Debt Fee Percent field that allows you to set a custom settlement fee rate for specific debts. This feature automates the fee calculation process, eliminating the need for manual math when a negotiated deal requires a non-standard fee structure.

It also allows a settlement fee to be prepopulated using the debt type associated with the debt enrolled in the program (if the fee type = Custom Debt Percent), or the enrollment plan performance fee rate.

How to Access

To use this feature, an administrator must first enable it in the settings. Once enabled, users can apply custom fee percentages directly on a client's debt page.

1. Navigate to the Admin tab, and then click Roles.

2. Scroll down to the Creditors section, and make sure the checkbox next to “View/Edit Debt Fee Percentage” is active. Click Save at the top of the page when finished.

   

Once enabled, users can apply custom fee percentages directly on a client's debt page.

How to Use

1. Log in to the FORTH CRM and click the Contacts tab.

2. Open a client's file and navigate to the Debts tab found within the Client Dashboard.
   

3. Select the specific debt you wish to modify, and click Edit Debt.

4. Locate the Debt Fee Percent field (see the bottom left of the image below).

   

5. Enter the desired percentage (between 0.00% and 100.00%).

   • Custom Value: If you enter a number (e.g., 15.00), the system will use this percentage to calculate the settlement fee, overriding the standard plan rate.

   • Zero Fee: If you enter 0.00, the system will set the settlement fee to $0.00.

   • Default Rate: If you leave the field blank (empty), the system will automatically revert to the standard Earned Performance Fee percentage from the enrollment plan.

6. Save your changes by clicking the green “Save' button (see image above) at the bottom left of the page (you may have to scroll down a bit to reach this button. The system will now apply this custom rate to future settlement calculations for this specific debt.

7. Your debt fee percent will be listed under the “Debt Fee Percent” column shown in the image below.

   

8. When values are input into the debt fee percent field, the system should dynamically reference the Debt Fee Percentage value when settling a debt. This will override the standard EPF percentage set in the enrollment plan.
   

If you have any questions or require assistance, contact us at support@setforth.com.