By selecting “Monthly / On a Particular Day” payments, you are agreeing to select either the specific date your payments will be initiated each month, or the particular day of the week you want payments to start. With “Monthly / On a Particular Day” payments, you can control the date TFS will initiate your monthly plan payment.
Remember, with this option, you can choose the date in one of two ways. If you would like your payments to start on the same calendar day each month, select the “Choose Calendar Date” option and use the box to enter in that date. Payments will then reoccur on that same date each month. If you would like to choose a specific day of a week each month (eg – Third Wednesday of Each Month), select the “Choose a Particular Day” as your option, and enter in your choice accordingly.
Select the “Monthly / On a Particular Day” payment option if you would like to enter the date TFS will initiate payments to your trustee. Payments will take 5 business days (approximately one calendar week) to clear the TFS Bill Pay system and arrive at your trustee’s office.