If a plan gets updated that results in a change of terms or plan schedule, any payments that the guarantor has already made toward the current open installment are kept and included in the newly updated plan.
This helps to ensure that a guarantor receives credit for payments that have already been applied to the current installment.
Exception: If the guarantor has paid the upcoming installment in full and consequently the installment is marked as paid, the funds will go toward the new plan but the guarantor will also still have to pay the next scheduled installment.
Here is an example of a guarantor who owes $100/month due on the 1st of each month, with the first installment due on February 1st. The guarantor makes a partial payment towards the first installment before the due date, and then the payment plan amount was updated to be $150/month shortly after.
Here is an example of a guarantor who owes $100/month due on the 1st of each month, with the first installment due on February 1st. The guarantor fully pays off the first installment before the due date. The payment plan amount was later updated to be $150/month shortly after, with a new due date of March 1st.
