The Big Picture Of Pay Plans

A pay plan (PP) is an agreement with a customer to make payments on specific dates. Pay plans differ from payment arrangements in that pay plans have user-defined scheduled payment dates, which are independent from the customer's billing dates. In other words, payment arrangements appear on the customer's bills, pay plan scheduled payments do not.

If a customer is in arrears and you want to receive payments on specific dates (as opposed to with the customer's regular bills), you would set up a pay plan and define the dates on which you expect the payments.

The topics in this section describe how pay plans work.

• A Pay Plan Has One Or More Scheduled Payments
  
• Automatic Payments Can Be Created On The Scheduled Payment Dates
  
• A Pay Plan Insulates Overdue Debt From The Account Debt Monitor
  
• A Pay Plan Must Reference A Pay Plan Type
  
• A Pay Plan May Reference A Third-Party Payor
  
• The Lifecycle Of A Pay Plan
  
• Highlighting The Existence Of Broken / Kept / Active and Denied Pay Plans
  
• A Pay Plan Must Reference A Payment Method
  
• The Pay Plan Monitor
  
• How Pay Plans Affect The Account Debt Monitor
  
• Collection Process / Severance Process Cancellation
  
• Interesting Pay Plan Facts