1. From the Client Dashboard click Settlements on the navigation bar.
Or you can start a new settlement from the Settlements Tab.
You will then need to select a client you wish to set up a settlement for.
Once you select a particular debt to settle, this will take you to the New Settlement page.
2. Focus on the left hand side and enter some basic information for the settlement.
- CHOOSE DEBT: Select the debt you want to setup a settlement offer for in the "Choose Debt" menu.
- COMP TEMPLATE: Choose the "Comp Template", that is used to split up the Earned Performance Fees. This will default to the compensation template currently saved on the contact.
- OFFER MADE BY: This designates which party has submitted the settlement offer. Either the Negotiator or the Creditor.
- NEGOTIATOR: Select the representative negotiating the settlement.
- OFFER STATUS: Set the status of the offer. Start the offer "In-Review". Setting offer status to "Accepted" or "Declined" will close the settlement offer and transition it to the next steps.
- OFFER AMOUNT: This is the amount your offering to settle the debt for.
- OFFER DATE: The date the offer was submitted to the creditor.
- OFFER VALID TIL: The expiration date for that offer. It will need to be accepted or declined by this date.
- LETTER DATE: Either the date the creditor or the debtor accepts the settlement offer (you probably will not have this till after the settlement has been negotiated).
- NOTES: Add notes specific to the settlement.
3. Next, set up the Settlement Payments. Start by entering the Start Date and number of Payments.
Once you've entered the Start Date and number of Payments you will see them in detail below.
**NOTE: Ignore the error message for the moment, we will be setting up the performance fees after the settlement payments have been set.
You can now see all individual payments are displayed for you to edit if needed. You can change individual amounts, dates, processing gateway and transaction type.
You can change all transaction gateways and type at once with the drop-down menus at the top of each of those columns.
**NOTE: The estimated client balance is displayed in green to the right of each transaction row. This will help predict if the balance will be sufficient throughout the payments. It factors in other transactions that may affect the balance (debits, credits, scheduled earned performance fees, or other settlement payments). This projection assumes all scheduled transactions clear as scheduled.
4. Next, set up the Earned Performance Fee. To start, you can see the section displays the Settlement Fee you will collect and the % of Debt that fee is calculated from. The Client Savings displays the amount and percentage saved based on the original debt amount. Also displayed is the Minimum Balance (prevents you from liquidating the entire client balance and the Minimum Fee (this indicates the minimum fee amount the system will schedule for a single transaction). Then click the "Calculate Fees" button.
5. Once you've completed setting up the Payment Terms and the Fee Schedule, scroll down to the Amortization Schedule to see the new transactions, which show in bold. You can see in the example below the Disbursement Fee in red (fee charged to the client by DebtPayGateway for sending a physical check to the creditor), the Settlement Payment in orange and the Earned Performance Fee in blue. Also make note of the estimated Client Balance (far right column) available so you are able to track the possible effects of the payment. At this point, you can go back to make adjustments to the Payments and Fees. Once finished, save the offer.
6. You may need to return to the offer to make adjustments as the settlement is negotiated with the creditor. Before clicking to accept the offer and moving to the next step, enter the Creditor Payee Details. In general, you MUST make sure all information provided here is accurate. Any errors can cause the settlement payment to be returned which will cause your earned performance fees to be delayed. 
- PAYABLE TO: This information will be populated on the physical check that is sent to the creditor for the payment. Make sure to enter it exactly as the creditor specifies.
- CREDITOR REFERENCE #: Make sure to get a reference number from the creditor. Usually this is an account number or reference number for the settlement. You must pride this in order to "Accept" the settlement.
Finally, make sure to provide the Client ID (DEMO-641376 in our example) to the creditor. This is needed for Debt Pay Gateway when releasing and/or reconciling payments later.
8. Once the offer has been accepted, return to the settlement offer and adjust the Offer Status to "Accepted" (if needed it can also be marked Declined). Next, enter the Letter Date this is the date the offer was accepted (either by the creditor or client depending on how you wish to use it). 
Now that you have "Accepted" the Settlement you will be taken to the Settlements Tab automatically. If you return to the settlement you will see payments details like displayed below.
On the Enrollment Details page (Click "Enrollments" on the navigation bar of the client dashboard), in this example, you will find the Settlement Payments (Blue), Disbursement Fees (Yellow) and Earned Performance Fees (Red) have been added to the payment schedule. 