- What is SmartPay EFT?
- What are the unique benefits of using the SmartPay EFT payment method?
- When a counselor sets up SmartPay EFT at the beginning of the program, how long will it take to get started?
- How long will it take to set up an account on the SmartPay EFT program if I do it through customer service?
- What day of the month are EFT payments withdrawn?
- Can a due date be changed once the EFT is established?
- What happens if a payment is returned for insufficient funds?
- Will I get charged for insufficient funds?
- What if I want to stop the EFT program or need to change the bank information?
- What if I want to increase or decrease the amount of money being deducted from my account?
- Can I pay an account(s) off through EFT?
- Is there a minimum payment required for EFT?
What is SmartPay EFT?
It is a payment method process by which you can have your monthly payments electronically withdrawn from your bank account on a date you choose.
What are the unique benefits of using the SmartPay EFT payment method?
Free. Smart Pay is available for no extra charge from the Agency.
Convenient. Smart Pay frees you from having to generate and send a check-based payment every month.
Reliable. You never risk sending a payment late.
Confidential. You never have to visit a third-party check vendor to make a payment.
Easy. Enrollment requires filling out a simple application.
When a counselor sets up SmartPay EFT at the beginning of the program, how long will it take to get started?
Your payments will be withdrawn beginning with the very first payment, unless you make alternate arrangements with your counselor.
How long will it take to set up an account on the SmartPay EFT program if I do it through customer service?
You must notify the SmartPay EFT department 10 days prior to the withdrawal date you choose. Completing the paperwork is simple and should only take a few minutes.
What day of the month are EFT payments withdrawn?
You may choose any day of the month as your due date. Once chosen, payments will recur on the same date, each month.
Can a due date be changed once the EFT is established?
You may change your due date one time during the course of your enrollment on the program. You must notify Customer Service 15 days before your scheduled due date. You may also need to contact your creditors to adjust their due date 15 days after your new EFT due date.
What happens if a payment is returned for insufficient funds?
If Debtscape attempts to deduct the payment from your account and there are insufficient funds, you will be notified by phone and mail. You must then make your payment by money order or Western Union for the monthly disbursement that was insufficient.
WE WILL NOT RESUBMIT A REQUEST TO WITHDRAW FUNDS FROM YOUR ACCOUNT FOR THE MONTH DURING WHICH THE FUNDS WERE INSUFFICIENT.
Debtscape will resume withdrawing funds electronically from your account the following month. If there are insufficient funds in your account on two occasions (two different months), you become ineligible for EFT. All future payments will have to be made via mail or Western Union. You may reapply for SmartPay EFT after six months.
Will I get charged for insufficient funds?
Insufficient funds for EFT payments are the same as bouncing a check. Your financial institution may assess a fee. Debtscape also reserves the right to assess a fee.
What if I want to stop the EFT program or need to change the bank information?
Canceling or Adjusting SmartPay EFT for first payment - You must notify your counselor by sending a written or faxed notification at least five business days before the scheduled payment date. For example, for a payment scheduled for the 20th, your counselor must receive the notification no later than the 15th, assuming these all represent business days.
Canceling or Adjusting SmartPay EFT for recurring payment - You must mail or send a written or faxed notification to the SmartPay EFT Department at least 10 days prior to the scheduled withdrawal date. For example, for a payment scheduled for the 20th, then the SmartPay EFT department must receive the cancellation or adjustment request no later than the 10th, assuming these all represent business days. Please send this notification to:
| Debtscape Incorporated 7240 Parkway Drive, Suite 360 Hanover, MD 21076 Attention: SmartPay EFT Department OR FAX TO: 410-859-5242. |
What if I want to increase or decrease the amount of money being deducted from my account?
For your first payment, you must notify your counselor by sending a written or faxed notification at least five business days prior to the scheduled withdrawal date.
For recurring payments, you must notify the SmartPay EFT department by sending a written or faxed notification at least ten business days prior to the scheduled withdrawal date.
If you are increasing a creditor's payment per their request and you've missed the EFT due date for the current month, send the increased funds directly to the creditor for that month only. Call Customer Service to increase your EFT payment for the following month.
Here's an example:
Your EFT will be transferred in 5 days and you receive a letter to increase Creditor"A" from $20 to $25.
- Send Creditor"A" $5 directly for the current month.
- Call Debtscape Customer Service to have your EFT increased $5 for the following month.
Can I pay an account(s) off through EFT?
Accounts can be paid off through EFT. Simply call 15 days prior to the EFT due date to increase the amount deducted from your account. After the increased payment has been deducted, it's important that you call Customer Service to adjust your payment back to the regular payment amount.
Is there a minimum payment required for EFT?
No.
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