How to Establish a Settlement Offer - Administration

Setup

An account can have one unique settlement offer at a time. To initiate a settlement arrangement, the following values must be transferred or uploaded from your collections system via API, SFTP, or by using the in-app consumer data import file with settlement offer details.

Configuring Settlement Payment Methods

To configure settlement payment methods in the settings, follow these steps:

1. Navigate to the Settings menu.

2. Locate the Payment section on the left-hand side.

3. Locate Settlement under payment.

4. Set the following options to TRUE or FALSE based on your preferences:

SettlementACHAllowed – Enable or disable ACH payments for settlements.

SettlementCreditCardAllowed – Enable or disable credit card payments for settlements.

SettlementDebitCardAllowed – Enable or disable debit card payments for settlements.

Settlement Offer Details

Settlement Offered: If Yes, the following fields are required. If No, these fields are not applicable. 

• Settlement Amount: The total offered settlement amount.

• Settlement Text: Additional information displayed to the user when viewing this account on the payment screen.

• Max Settlement Payments: The maximum number of installments allowed to complete the settlement.

• Max Settlement Date: The final deadline by which all settlement payments must be received.

Note:  If you have Custom Data Mappings configured by Concepts2Code that are hard-coded into the portal, they will take priority over Consumer data transmitted from your Collection System or Consumer Data File Upload.

If the above data was transmitted to the Concepts2Code solution; as shown in the above example, the following guidelines would then be presented to the consumer.

The consumer receives notification indicating that a settlement offer is available, with instructions to select "Pay Off the Settlement." The Payment Options are preconfigured within the system for all customers and serve as standardized payment methods. The dropdown menu is not customizable by individual client sites.

Consumers have the flexibility to adjust payment dates and amounts, provided the modifications adhere to the established guidelines.

In addition to individual consumer settlements, customers can configure up to five unique payment offers for global display including settlement offers. For more information on payment options, please contact support@concepts2code.com.