Direct Pay Set Up - Moore Law Group

This document discusses the process that applies ONLY for MOORE LAW GROUP settlements.

The following provides an overview of the settlement negotiating process and describes the current procedures required to convert settlement payments from an existing payment type to Direct Pay (Click here to learn more about Direct Pay)

Overview:   

For normal ACH/Check by phone payment types, there are five (5) steps involved in the negotiating process.   With Direct Pay, the last step, there is no longer a need to call creditors to set up scheduled payments.

🔺For all MOORE LAW settlements, please inform your team not to call in payments as they can cause duplicate payments with this creditor.   

Scheduling Settlements:

For Direct Pay payments, the information filled out in the Creditor Payee Details section is significantly changed. Once you have selected the payment method under the payment terms as direct pay, the CREDITOR PAYEE DETAILS section (left-hand side of the screen) updates with Direct Pay Details.  

🔺 MOORE LAW has 8 trust accounts. Please select the CORRECT account for the creditor. If you are unsure which account to set up, please refer to the creditor listed on the settlement letter/stipulation document or contact Moore Law Group.

Please copy the MOORE LAW ACCOUNT NUMBER as listed on the settlement letter agreement or Stipulation letter to ensure the proper consumer’s account is credited when paid. Please note the arrows that show the specific info that should be copied to the creditor reference field. Do not include the consumer’s name in parenthesis, append the reference field with words like File # or Account#, etc., or shorten the reference number field. Failure to adhere to this process may delay or cause the payment file to fail and require manual intervention. Payments could be lost and shown as UNPAID.  

Please, double-check the entries are correct before saving the settlement.

Additional Account Information for selection of the correct account:

The data below is provided by Moore Law Group and is subject to change. The First 4 digits of the Moore Law Group account # sequence should be assigned to the corresponding payee trust account # (second column).  This will help you determine which account to select if you are unsure which account is associated with it.

Settlement Payment Decisions:

It's important to note that moving forward, MOORE settlements that are set up as Direct Pay will no longer be viewable on the Decisions Page.   

Why?   

Forth will send funds to creditors based upon the process date for MOORE LAW settlements, eliminating your daily task of approving each settlement payment. Furthermore, settlement payments will be paid only if the consumer has sufficient funds in their special purpose account. Any shortage in funds will result in the transaction remaining in Low Balance status until funds are available or advanced to the client.  

What about low-balance accounts?   How do I advance if the decisions page is gone?

To help you manage this, Forth has created reports that enable you to make advances to address these exceptions.

Forth Pay Reports:

1. Uncollected Settlements - lists all uncollected/unpaid settlements in pending, shipped, or low balance status. (Click here to learn more)
   
   
2. Low Balance Forecast Report - lists all potential low balance accounts up to 2 weeks out.  It features an advance button to facilitate on-the-fly account adjustments. (Click here to learn more)

At the beginning of each month, MOORE LAW will send its Uncollected Debt Payments report to you. It will STILL be your responsibility to review these reports and manage these missing or late payments directly with MOORE LAW.  

Questions:

Should you have any questions about this process or need further information, contact us at settlements@setforth.com.

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