Time Payment Arrangement Plans

Tools > Workflow Setup > Time Payment Plans

Time Payment Plans are for defining the different frequencies of payment arrangements and the rules around them.

Time payment plans are assigned to payment arrangements which are created by clicking the “Arrangement” button on the Case Manager, Case Details page and selecting the plan.

 

Creating a new Time Payment Plan

A time payment plan code must be unique. Enter your new time payment plan code in the "Code" field.

IMPORTANT: The code should not contain any spaces or characters other than letters or numbers; except a full stop.

Describe the plan in the field labeled “Description”. This is what the users will see in the list of plans when making an arrangement.

Select a frequency for the repayments.

Nominate a grace period. This is a number that represents the number of days past the agreement installment to give grace for late payments. Late payments are marked as defaults.

Nominate a number of days prior to an installment being due for an SMS reminder to be sent.

IMPORTANT: When creating an arrangement, if the debtor has a mobile number, the user can select them to receive an SMS reminder. The mass processing scheduler MUST be run each working day to ensure such SMS reminders are sent.

Nominate the number of days between each installment. For example a weekly installment plan would be 7 days.

Management of Under Paid installments

When a debtor short pays an installment it is deemed an under payment. The arrears on the arrangement is incremented by the total amount of the installment that was not paid.

You can program a plan to automatically run a pre-defined action where there is an under payment. These pre-defined actions must have a classification of “Arrangement” for them to be available for selection within the plan.

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For pre-legal cases, tick the tab labeled “Pre Legal” then select your action under the table labeled “Action on Under Payment”.

For legal cases, tick the tab labeled “Post Legal” then select your action under the table labeled “Action on Under Payment Legal”.

The first row in the table represents the action to take on the first under payment. The second row represents the action to take on the second under payment and so on and so forth. When all actions have been exhausted and further under payments are encountered, the case will appear in the operators work queue.

Tip: Right-mouse click to zoom to the Action Wizard definition page to create or maintain action wizards.

Management of Defaulted Installments

When a debtor fails to pay an installment by the due date (including any grace days) it is deemed a default. The arrears on the arrangement is incremented by the total amount of the installment that was due.

You can program a plan to automatically run a pre-defined action where there is an under payment. These pre-defined actions must have a classification of “Arrangement” for them to be available for selection within the plan.

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For pre-legal cases, tick the tab labeled “Pre Legal” then select your action under the table labeled “Action on Default”.

For legal cases, tick the tab labeled “Post Legal” then select your action under the table labeled “Action on Default Legal”.

The first row in the table represents the action to take on the first default. The second row represents the action to take on the second default and so on and so forth. When all actions have been exhausted and further defaults are encountered, the case will appear in the operators work queue.

Click “Save” to save any changes.