Establishing Payment Plans in ACE

This article details the steps to create a payment plan in ACE, which 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. Open an account.

2. Click Setup Payment Plan in the Sidebar menu.

3. Fill data in the following fields:

   1. Payment Plan Section: Select Promise or Secure from the Plan Type Field

      1. (Optional) Select Payor

   2. Bundle Section: Choose to create the plan for all accounts or select an individual account within the Bundle Section.

      1. Note: If the Bundle Section is collapsed, click on the header to expand it and view bundle accounts.

   3. Card Information Section:

      1. (For Secure Payments) Enter Card or ACH information. Fields marked with a * are required.

   4. Payment Settlement Section:

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

   5. Create Payment Schedule Section: Tab between each field. 

      1. Note: Enter the Payment Amount or Number of Payments last to ensure whichever of those values is most important is the last one entered. This is due to the fact that recalculation occurs in the payment schedule as each field value changes.

         1. Example 1: If setting up based on the number of payments, enter the Number of Payments last.

         2. Example 2: If setting up based on the payment amount, enter the Payment Amount last.

      2. Enter the Payment Plan Total, which auto-populates the current bundle balance but can be adjusted. This represents the total paid over the plan's life.

      3. Enter Down Payment Amount if applicable.

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

         1. ACE will populate the fields and adjust the Schedule Section below.

      5. Enter Start Date. Defaults at today’s date. Enter the date the consumer wants to make the first payment.

      6. Enter either the Payment Amount field for a fixed monthly payment (e.g., $200) or the Number of Payments for a specific payoff timeframe (e.g., 3 months). ACE adjusts the other field automatically based on your input.

   6. Optional Adjustments and Notes:

      1. (Optional) Adjust specific payments in the Schedule as needed.

      2. (Optional) Enter notes regarding the payment plan and consumer’s commitment.

   7. Finalize and Apply:

      1. Review all entered details.

      2. Click "Apply" to finalize the payment plan setup.

   

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Modify A Payment Plan