Consumer Recurring Payments Process

If enabled, recurring payments can be made by consumers on their account. When creating a recurring series the user will have to fill in the following information:

• Payment Amount
• How Often / Frequency
• First Payment Date

The options for the How Often / Frequency are shown below:

Considerations of Recurring Payments

Recurring payments will create as many payments as are needed to reduce the balance to zero based on the current balance. For example, if the current balance is $450 and the user chooses to setup recurring monthly payments beginning on 1/1/2020, the following payment arrangement will be scheduled:

• 1/1/2020 - $100
• 2/1/2020 - $100
• 3/1/2020 - $100
• 4/1/2020 - $100
• 5/1/2020 - $50

Since the entire arrangement is placed at a single time, it does not account for any adjustments to the balance that may occur after. 

Minimum Payment Amount

There is no minimum payment for single or recurring payments. If a consumer schedules a small recurring payment amount on a large balance, the website will accept it. It is up to your agency to determine if the debtor needs to be contacted. 

First Payment Date

The first payment date for a recurring payment must occur within 7 days of creating the arrangement.

Maximum Number of Payments

By default there is no limit to the number of payments that may be scheduled by a recurring payment arrangement. If your agency needs to have a maximum number of payments, you may configure a value in the settings. There are two settings that apply to this. If you the maximum number to anything other than zero, it will only allow that many payments to be made and the balance may not be at zero after the last payment of the arrangement.

The example below shows the maximum number of payments set to 12.

Additionally, there is another setting that will allow you to add text that will be shown to the user when selecting a recurring payment. HTML is accepted here. 

This will cause the following to display on the users screen: