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Does Using A Payment Plan Account For Interest Applied To A Client's Bill?

Question:

  • Does using a payment plan add interest charges to a client's bill
  • Will using a payment plan add interest charges

Environment:

  • Clio Manage

Answer:

Yes. With Payment plans, as long as the payment profile with interest set is applied to the client in question (or is your default payment profile), interest on the bill will be accounted for. 

 

Additionally, as long as the reoccurring payment plan instalment amount is large enough to cover the additional interest balance, the plan will automatically stop the moment this outstanding balance is paid off. 

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