# Plan options Here are the kinds of payment plans we typically agree to. Most plans we record look like one of these. ## Standard plan A down payment today and monthly payments after. * **Down payment:** something upfront (often a meaningful fraction of the balance). * **Monthly payments:** equal amounts for the remaining balance. * **Length:** a few months. The default the system records when no other length is agreed is **3 monthly installments** (per the post-call extraction in `services/payment/service.py`). Example: You owe $4,000. Default plan = roughly $1,333 today, then two more monthly payments of roughly $1,333 each. ## Longer plan If you need more time, we can stretch the plan out — typically up to several months. Whether a longer plan is acceptable depends on the business that placed the account; their **settlement matrix** (per-creditor `allow_payment_plan` and `max_plan_months` settings) is the cap. ## Settlement plan Sometimes the business will accept less than the full balance to close the account. Whether a settlement is available and at what discount is driven by the per-creditor settlement matrix in our database. Today there is no "accept settlement" button in the portal. If you'd like to ask about settling, do it on a call with our agent or [send a message](/for-debtors/debtor-portal/messaging-the-creditor.md). Example: You owe $4,000. Settlement plan = pay $3,000 over 3 months and the account is fully closed. ## Custom plan If none of the above fit, propose your own terms when you talk to us. We'll record what we agree to. This is useful if your cash flow is uneven (e.g., you can pay more in one specific month, less in others). ## Fees and interest There is no interest on a plan. The total you pay equals your current balance. There are no fees from us for setting up a plan or making a payment. Stripe's normal card-processing fees apply to each payment. If a payment fails, we do not charge a fee for the failed attempt. ## How to choose Most people pick the plan with the shortest length they can comfortably afford. A shorter plan: * Costs the same total (no interest). * Closes your account sooner. * Is easier to remember and stick to. A longer plan: * Has smaller monthly payments. * Spreads the burden over more cycles. * Has slightly higher risk of missing a payment as months go on. ## What if my situation changes mid-plan You can renegotiate a plan that's in place. See [Modifying your plan](/for-debtors/payment-plans/modifying-your-plan.md). ## TODO * Add in-portal plan-options UI. *** Last reviewed: 2026-05-12 by Customer Success. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://help.moderncollections.io/for-debtors/payment-plans/plan-options.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.