Establishing Payment Plans in ACE

This article explains how to create a payment plan in ACE.

ACE offers two plan types:

• Secure Plan: Allows saving secure payment details (like credit cards or ACH) for automatic payments at agreed intervals.

• Promise Plan: Requires regular payments as agreed. The consumer will need to manually make their payments either through the VA, mail, or other specified methods.

Create a Payment Plan

1. Access Payment Plan Setup

   1. Open an account

   2. Click Setup Payment Plan in the sidebar

2. Complete the Payment Plan Fields

   1. Payment Plan Section

      1. Select Promise or Secure from the Plan Type field

      2. (Optional) Select a Payor

   2. Bundle Section

   3. Choose to apply the plan to:

      1. All accounts, or

      2. A specific account within the bundle

      3. Note: Expand the section if collapsed to view accounts.

   4. Card Information Section (Secure Plans Only)

      1. Enter Card or ACH details

      2. Fields marked with * are required

   5. Payment Settlement Section

      1. If settlement is allowed, enter the settlement amount or percentage

3. Configure the Payment Schedule

   1. Create Payment Schedule Section

   2. Enter the Payment Plan Total

      1. Defaults to the current balance but can be adjusted

      2. Represents the total amount to be paid over the life of the plan

   3. Enter a Down Payment Amount (if applicable)

   4. Select a Schedule Type (e.g., weekly, monthly)

   5. Enter the Start Date (defaults to today)

   6. Schedule Configuration

      1. Enter either:

         1. Payment Amount (fixed payment), or

         2. Number of Payments (fixed duration)

      2. ACE automatically calculates the other value.

4. Best Practice:

   1. Enter the most important value last:

      1. Enter Number of Payments last for a target payoff timeframe

      2. Enter Payment Amount last for a fixed payment amount

5. Schedule Behavior

   1. The payment schedule automatically recalculates when any schedule field is updated

   2. The schedule will only clear if:

      1. Payment Amount fails validation, or

      2. Number of Payments fails validation

6. Optional Adjustments

   1. Adjust individual payments in the schedule as needed

   2. Add notes regarding the consumer’s commitment

7. Finalize and Apply

   1. Review all entered details

   2. Click Apply to finalize the payment plan

Apply Button Behavior

The Apply button is disabled when:

• Required fields are incomplete or invalid

• The schedule is still generating

Please Note:

When modifying an existing payment plan:

• Payment Plan Total represents the remaining balance, not the original total

• Settlement values remain unchanged and cannot be edited

Read More!

Modify A Payment Plan