In order to comply with the NH DMP Monthly Fee rule, a new Monthly Fee Schedule parameter, projectedMonths, has been added.
This value is set in the Client / Admin tab and should be manually entered for all NH Clients.
V. The licensee’s fees shall be based on the total indebtedness as stated in the contract and shall not exceed:
(a) 10 percent when the plan of payment is for a period of 10 months or less; or
(b) 12 1/2 percent when the plan of payment is for a period of more than 10 months but less than 18 months; or
(c) 15 percent when the plan of payment is for a period of 18 months or more.
The following formula can be used for the NH Monthly Fee schedule:
NH:MIN:0,MAX:60,FORMULA:projectedMonths <= 10 ? payment*0.10 : (projectedMonths < 18 ? payment*0.125 : payment*.15)
The ternary operators “? :” are used to specify conditional logic and the formula can be read as this:
if projectedMonths <= 10 then use 10% of payment, else if projectedMonths < 18 use 12.5% of payment, else use 15% of payment
The DMP Fee calculator now includes a Projected Months field.