Payment Arrangement Types

There are three types of payment arrangements that you can negotiate. All three types allow you to negotiate them as a settlement.

Single Payment: For the current date or a future date, and for a specific amount or a percentage of the balance. The payment results summary shows the amount paid or promised, the balance remaining on the account, and the balance percent paid or remaining.
Recurring Payments: Start on a specific date, occur with the same frequency (for example, weekly or monthly), and are for an equal amount. You can adjust individual payment dates and amounts; however, if you modify the other parameters, the system doesn't save your date and amount changes. The payment results summary shows the amount and date of each payment, and the balance remaining on the account after the entire stream.
Recurring PIF or SIF payments: Start on a specific date and occur with the same frequency (for example, weekly or monthly). The system splits the payment amounts based on the negotiated total amount paid or the negotiated balance percent paid at the end of the stream. You can adjust individual payment dates and amounts; however, if you modify the other parameters, the system doesn't save your date and amount changes. The payment results summary shows the amount and date of each payment, the total amount paid after the stream, and the balance remaining on the account after the entire stream.