Dedicated Accounts are an essential component of the debt settlement process that facilitates consumer deposits and makes disbursements on their behalf. The transactions we manage are regulated by specific banking rules and compliance standards set forth by the Federal Trade Commission’s Telemarketing Sales Rule. Our services are focused on respecting the rights of consumers involved in debt settlement programs; in this role, we are committed to protocols and procedures that are compliance-driven, secure and transparent.

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Simply stated, compliance comes first at Forth. We operate within the FTC’s Telemarketing Sales Rule guidelines and routinely review the operating procedures, marketing materials, client agreements, sales scripts, legal actions and other materials from Debt Settlement Company (DSC) partners. In addition, the Forth Compliance team conducts internal reviews monthly.

Forth also carefully monitors the return rates of each account in accordance with NACHA guidelines to ensure we maintain strong banking relationships and protect the consumers that we work with.

Client Communication

At Forth we believe that the key to success in a debt relief program is effective communication, and we take our role in that communication seriously. When a new client account is activated, the client receives a Welcome Letter/Email that introduces the relationship with Forth. This is a critical communication vehicle, since consumers who are initiating a new relationship with a debt settlement provider may not understand the role that Forth plays in holding their funds safely and making payments on their behalf. This introductory communication also provides the consumer with their USERNAME and PASSWORD, which they can use to access the Client Portal or manage their account with the help of a Forth Customer Service Representative via telephone.

Once a consumer is onboarded, they receive monthly statements (online or via mail) that show the activity in their custodial account.

Our Forth support staff is available daily from 9 am to 7pm central time. When a consumer reaches out to Forth they will speak to a member of our knowledgeable and friendly staff. For issues related to their debt settlement program we will always attempt a warm transfer to the DSC that they are enrolled with and can even easily make changes to the clients payment account via a verbal authorization over the phone.

Settlement Decisions

The Forth platform provides an interactive Decisions Page where a DSC’s payments team can view, and manage their daily settlements. From this page settlement exceptions can easily be managed with features that include a low balance forecaster, and a real time funds advance tool.

The Decisions Page allows for real time interaction with our dedicated settlements team. Our highly trained team not only works directly with the DSC’s payments team to ensure that settlements are processed efficiently and accurately, but they maintain direct relationships with the creditors we send payments to in order to offer the highest level of support to DSC’s and our consumers.

Settlement Payment Types

Forth supports a host of payment types, including Direct Pay, ACH/Check by Phone, Overnight Check, and Bank Wire.

Forth has multiple creditors currently set up to receive Direct Pay payments and has a dedicated team that is consistently working to add more creditors to our Direct Pay program. At Forth we are committed to expanding our Direct Pay relationships to continue to offer the most accurate and cost effective payment method for our consumers.