Launch Date: 5/31/2022 Review Date: 5/30/2023
This article addresses how the Lending USA (LUSA) Fresh Start Loan (FSL) program works for DPP clients. A swimlane workflow map of this process is shown below (click on the image to enlarge):
This article is divided into the following sections:
- Preliminary Steps
- Determining Eligibility
- Qualified or Not Qualified
- Funding Agreement and Debts Settled
To begin, the DPP Customer must enroll in a Debt Settlement Relief Program (DSRP) program of their choosing. Next, the Customer debits into the DSRP program as defined by their payment schedule.
At this point, the Customer is evaluated to determine their eligibility for the FSL Loan option. If the Customer is not interested, they may continue with the normal DPP debt settlement program.
If the Customer is interested in the FSL Loan option, a CRM agent submits the Customer's request for eligibility via the Loans button in the Menu Ribbon on the CRM (see below).
After clicking the "Loans" button, you will see available options similar to what is seen below. Click the "Submit Loan Application" button associated with "LendingUSA (-)".
The page will then change to the "Submit a Contact" page as shown in the example below.
Confirm that all the information listed is accurate, select the checkbox next to the appropriate debt(s) to apply (see red highlighted checkboxes above left) , and click the "Submit" button (see highlighted button above).
Qualified or Not Qualified
If the customer does not qualify for loan offers, the loan application is archived and the customer continues with the normal DSRP program.
If the Customer does qualify, the LUSA FSL application is set to pre-qualified and their Loan Tab activity is automatically updated (see image below).
If LUSA did not accept the Customer, an error message appears at the bottom of the screen and is logged in the Contact's history and the CRM agent retains the option to resubmit. An example of this error message is shown below.
Once Lending USA has received the submission from DPP, they will send the loan application to the consumer at the email address listed on the contact dashboard. That application will be accessible via hyperlink and will appear similar to the image shown below:
Once you complete all information on the page above, and click the "Submit", the page below will appear, confirming that LUSA will review and confirm the application.
The contact's History tab will be automatically updated within the Contact's record in the CRM contact (see image below).
The contact's record also displays current settlements in progress on the Loans tab in the CRM.
If all program debts are settled or have offers pending settlements, the CRM user clicks the "Assemble Offers" button, and the offers are automatically sent to LUSA (see image below).
The settlements are then received by LUSA, and LUSA sends the Customer a funding agreement to digitally sign.
Funding Agreement and Debts Settled
Once signed, the Customer is approved for funding by LUSA. This means that the Customer is funded, and settlement payments are made to their creditors.
Once all enrolled debts are settled and all settlement payments are made, DPP will then send a Certificate of Final Settlement to LUSA to complete this process.