Each payment plan installment can have the following statuses:
| Status | Definition |
| Open | The installment/fee is active and eligible |
| Late | The installment/fee was not paid but it is still within the grace period (see below for more information on grace periods) |
| Missed | The installment/fee was not paid and the due date + grace period has passed (see below for more information on grace periods) |
| Paid | The installment/fee was paid |
Each payment plan can have the following statuses:
| Plan Status | Status Definition |
| Good Standing | Guarantor has paid the most recent installment in the past |
| Delinquent | Guarantor has missed the most recent installment in the past, or if the guarantor’s payment is 1 cent (or more) less than the installment amount. |
Each payment plan can have the following closure reasons:
| Closure Reason | Closure Definition |
| Closed - Canceled | Stopped/closed by a staff member |
| Closed - Defaulted | A guarantor missed consecutive payments equal to the grace period (e.g. 2) (see below for more information on grace periods) |
| Closed - Completed | The payment plan is closed with no scheduled payments in the future |
| Closed - No Balance Remaining | Visits on the payment have no balance remaining, and as a result no balance remains on the payment plan |
Each payment plan can have the following reasons for updating:
| Status | Logic |
|---|---|
| Status Change | Guarantor status changed from Good Standing to Delinquent, or from Delinquent to Good Standing |
| Updated - Adjustment | Balance for a visit on the plan updated, resulting in the guarantor’s plan terms being automatically updated to accommodate for the adjusted amount |
| Updated |
Plan was updated by staff or a guarantor to add visit(s) to plan or change terms Note: Only staff can change terms without changing the visits on plan |
To watch a short video on The Lifecycle of a Payment Plan, visit our Training Center!