tfs payments

[Scottowl]

I make manual debits from a bank account to TFS every month, which take 5 business days to clear.
With the holidays taking up 2 week days, I won't have time for them to get there if I initiate the debit on 12/27. They are due on the 6th.
Is there danger of not being in compliance if the payment arrives 2 days late?

[lukesky]

Hi Scottowl

I have been using TFS for over 3 years and I have been late once which was over this last Thanksgiving. TFS showed it got to my Trustee on the 29th but NDC showed it got there on the as 12/2 which to that is late. I sent a email to my Attorney right away and attatched the TFS screenshot when it got there on the 29th. He said donkt worry about it and he was right, nothing happened. I do not know if we are anyone with a chapter 13, etc is giving a grace period with payments, but I would let you Attorney know asap. Good luck!

[sophieanne]

Hi...although it takes the 5 days to process...the trustee will be aware when the payment initiated. There should be nothing to worry about this month. Happy Holidays!

[Scottowl]

That does sound encouraging.
I pay a 4.99 fee per payment to do this.
I was also noticing a Moneygram arrangement with a higher fee. They say the payment is instant because cash or debit transaction is used.
All for a higher fee, of course!

[wd2005]

I used to make my payments via USPS next Day Priority with a bank check. One time my payment was delivered but never posted. After about 10 days I called the Trustee's office. Apparently it was put in the wrong pile and the check was deposited, just never credited. I asked how long before they consider it "late". I was told that if the money isn't there when they go to make disbursements is when they'd send me a nasty letter. In my case my payment was due on the 7th but the disbursements were done on the last Thursday of the month. After that I signed up for automatic payments through TFS. Sometimes my payments posted after the due date but I knew I had that cushion. That's in the Massachusetts office.