• A homeowner gets paid each week, but by the time monthly bills come money for key items such as the mortgage or utilities have been spent on other expenses. Small debit drafts can be taken directly from the account up to six times a month. At the beginning of the next month all bills are paid directly by Monitor Realty Management Inc. on time.
  
  
• The owner of a house has cash in a checking account to make mortgage payments but often incurs late charges because they are too busy or forgetful to make the payments on time. This customer can authorize a debit draft to be issued each month in the amount of the mortgage payment. Debit drafts would be issued to Monitor Realty Management Inc. who would send a check directly to the mortgage company on time each month. Money would be taken from the customer's checking account exactly as if it were a check signed by the customers themselves.
  
  
• Adult children of elderly parents or other caretakers such as designated Social Security payees are responsible for paying utility bills, rent or other bills for someone incapable of handling their own financial affairs. Items to be paid can be sent directly to the debit draft provider who can issue a debit draft drawn against any bank account selected and pay the bills directly to the creditors.
  
  
• A person may have money in a bank but remains uncomfortable dealing with checks or money orders, making bill paying a difficult task. Perhaps a small business owner or contractor spends his days on job sites or on the road. Money may be in an account but a lack of time and bookkeeping skills prevents bills being paid and proper records being kept. Bills can be sent directly to the debit draft provider who pays them with money debit drafted against the bank account.
  
  
• A person going on an extended trip or into military service overseas may need bills paid in their absence. Bills may be redirected to Monitor Realty Management Inc. who will pay them from money debit drafted from a predetermined account.
  
  
• A business who may be concerned about either a customers credit or the business' cash flow can arrange (with the customers permission) to have their invoices paid automatically on time each month. The business or the customer may pay for the service.
  
  
• A couple with some bad credit or no credit is looking to rent an apartment or arrange private financing on a house or car. By assuring they have contracted to have payments automatically deducted from their account and sent in directly on their behalf they may be more likely to have their application accepted.
  
  
• People simply finding it hard to save. Money can be drawn out an account and put in savings, mutual funds, or anywhere designated by the customer.
  
  
• Many homeowners prefer to have real estate taxes or yearly property insurance escrowed each month and paid on their behalf. Many banks and mortgage companies no longer offer this service. Bill Monitor not only offers this service but offers to take the escrow weekly or monthly.
  
  
• A family who needs an outside source help to stay on a preset budget.
  
  
• Trustees, parents of students living out of town or anyone else who wants to designate a specific check to be send to someone else on a regular basis.
  
  
• Absentee landlords or condominium associations may direct rents or fees to sent directly to Monitor Realty Management, Inc. and direct bills to be send directly as well. Monitor will pay the bills and send excess funds where directed.
  
  
• Someone may have more than enough money to pay bills but does not have time to write all the checks or just dislikes the bill paying process. Everything can be taken care of for them.
  
  
• People with critical payment situations such as mortgage or trustee payments in bankruptcy, where a missed payment may result in losing property or court ordered restitution where a missed payment may mean jail.
  
  
• Anyone who may be blind, paralyzed or otherwise physically unable to pay bills on their own.
  
  

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What are Debit Drafts?

• Debit drafts operate almost exactly like checks. In order to work with debit drafts, you must have a checking account at a bank or credit union. Money must be available in good funds to cover the amounts of any debit draft. The drafts themselves look almost exactly like checks. The holder of a debit draft negotiates the draft like a check. It may be deposited or cashed and clears the holders' bank when deposited as if it were a check. In fact, the debit draft will be returned to the customer enclosed with any other canceled checks in each monthly statement.
  
  
• What distinguishes debit drafts from checks is that debit drafts are pre authorized transfers approved by the holder of the account and are printed and issued by a third party, in this case Monitor Realty Management Inc.
  
  

Can deposits be made to Monitor or checks directly deposited instead of using a debit draft?
Yes, but for some customers that would defeat the purpose of the service.

Who pays for postage and checks?
Monitor pays for the postage, checks to pay bills and printing of checks and debit drafts. Each debit draft will be treated as a check at the customer's bank and incur per check charges if their own account has any.

How often do you debit draft an account?
Mostly one to four times a month depending on a customers need. In a case where there is no problem with money and we are primarily paying bills to save someone time once a month should be fine. In a case where a person is tempted to spend any cash available debit drafting money to pay essential bills once right after each pay period may be the right answer. This number should be chosen by the customer with help from Attorney Brenner if needed. Each draft should be for the same amount. In rare cases eight drafts a month could be taken.

How much money should be debit drafted?
Enough to be sure all bills to be paid in a month will be accounted for.

Can this be used as a savings plan?
Sure, just have more money debit drafted than you need. Every month, or whenever you instruct Monitor, funds can be transferred to savings, Mutual Funds, IRAs etc.

Will I receive statements of the activity in my account and my balances?
Yes, once every three months. If you would like a statement each month there is an extra charge of $30 per year.

Can I bounce a debit draft?
Yes, it's just like a check in that way. Customers must have enough money in their account to cover all pre authorized debit drafts. If a debit draft bounces fees will be due to both Monitor and the customer's home bank.

What if my bills change each month?
This service works best with consistent bills such as mortgage payments, rent, budgeted utility bills or other bills which are about the same each month. While we can arrange to pay vastly different bills each month this may require adjusting the debit drafting amounts often and there is a small charge each time it happens.

How is Monitor paid?
Monitor will cut a check to itself each month as one of the regular bills to be paid, except there is no charge to the customer for cutting that check.

Who is Monitor Realty Management, Inc.?
Originally formed in 1992 to manage Attorney Mory Brenner's personal real estate holdings Monitor Realty Management, Inc. operates a bill payment and property management service. The business still works from the Attorney's office and he still oversees all operations.

How can I know this is legitimate?
The fact that a well-respected attorney is involved should put you more at ease. In fact, this service started out of a need Attorney Brenner found among his own clients.

If I have questions or problems how would I deal with them?
You are welcome to call, write or email at any time and receive help from our staff generally 8:00 AM to 6:00 PM Eastern Time.

Do I have to live in a certain state to use this service?
No, anywhere in th United States is fine. If you have a US bank account and want Monitor to pay US bills while you are out of the country that is fine too.

What if I do not want everything to happen automatically?
The automatic element is the whole point of Bill Monitor. For an internet bill paying service where you control every step try Paytrust.

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Fees  

Initial Client Setup	$25.00
Each Deposit or Debit Draft	$2.50
Each bill paid or check sent	$2.50
Each Change in Debit Draft amount or frequency	$2.50
Bounced Check or Debit Draft	$25.00

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Print a contract on-line and sign up by clicking here.
For more information or to sign up for this service by phone call toll free at: 877-FIX-DEBT or 877-349-3328

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Other Web Sites Written or Edited by Attorney Mory Brenner:

Bankruptcy Alternatives / Debtor's Options
FAQs examining the debt itself, personal issues and many resolution options including workouts, payment and bankruptcy. Personal debt analysis and recommendations.

Debtor Links
Sites for debtors on bankruptcy, workouts, credit counseling, IRS, credit rebuilding, and more! US, UK and Canada.

Alternative Mortgage Sources USA
Links to lenders and mortgage brokers throughout the United States offering loans to borrowers with credit problems, bankruptcy or foreclosures on their credit report. Apply On-Line service available.

Alternative Finance Sources USA -Car loans
Links to lenders and finance companies throughout the United States offering refinancing, new or used car loans to borrowers with credit problems, bankruptcy or foreclosures on their credit report.

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People have visited this page since 1/01/99.

For information on retaining or consulting with Attorney Brenner or American Mortgage Debt Resolution, Inc. please visit the contact page.

This material may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. Web site design by Mory Brenner. This page, and all contents, are Copyright (C) 1999 by

Mory Brenner, Esquire, 150 North Street Suite 40, Pittsfield, Massachusetts 01201.

The most recent update of this page occurred on 10/26/99.

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