PayMyCourtOrder vs eWage
Some trustees let debtors bypass a wage order by signing up for eWage with TFS, which allows them to make Chapter 13 payments directly from their bank account. In contrast, PayMyCourtOrder (PMCO) is for employers handling wage deduction orders, letting them pay trustees directly via TFS for $1.99 per payment. Both simplify payments but serve different needs.
- What it is: PayMyCourtOrder (PMCO) is a tool for employers to manage wage deduction orders for employees in Chapter 13 bankruptcy.
- How it works: Employers can either push payments to TFS or authorize TFS to pull payments directly from their bank account.
- Cost: $1.99 per payment, offering a simple and affordable way to comply with wage deduction orders.
- Who it’s for: Employers managing court-ordered Chapter 13 payments on behalf of their employees.
- Key benefits:
- Streamlines payment processing to trustees.
- Reduces administrative burden.
- Ensures compliance with court-ordered wage deductions.
- Convenience: Fully digital process with no need for checks or manual paperwork.
- What it is: eWage is a TFS tool that allows employees in Chapter 13 bankruptcy to make plan payments anonymously through their employer.
- How it works: The debtor’s attorney sets up eWage. The debtor provides their employer with a special bank account and routing number to send a portion of their paycheck to TFS, which then transmits the payment to the trustee.
- Cost: $1.99 per payment, ensuring an affordable payment solution.
- Who it’s for: Debtors who want to keep their bankruptcy status private from their employer while meeting payment obligations.
- Key benefits:
- Maintains the debtor’s privacy.
- Keeps employers unaware of the debtor’s bankruptcy.
- Automates and simplifies the payment process.
- Convenience: Hassle-free system with payments routed seamlessly from the employer to TFS and then to the trustee.
