Free · Live preview · Not legal advice
Payment plan generator
Enter a total balance, the number of installments, and a frequency — the schedule renders as you type. Export a printable one-page plan with one email. This is a worksheet, not a legal agreement; have your attorney review before signing a customer.
Schedule preview
| # | Due date | Amount | Balance after |
|---|---|---|---|
| 1 / 3 | 2026-04-16 | $500.00 | $1,000.00 |
| 2 / 3 | 2026-05-16 | $500.00 | $500.00 |
| 3 / 3 | 2026-06-16 | $500.00 | $0.00 |
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Frequently asked questions
Is a payment plan legally binding?
Only if the customer signs it. An unsigned plan is a proposal — it does not change your original invoice obligation. Send the final plan in writing, ask the customer to countersign or reply 'I agree' by email, and keep that acknowledgement with the invoice record.
Should the customer sign it?
Yes if the balance is material. A countersigned payment-plan agreement establishes the new cure schedule, waives the customer's right to claim they didn't know the terms, and creates a paper trail if you ever need to escalate. For very small balances, a confirmed email agreement is usually sufficient.
What interest rate can I charge on a payment plan?
This varies by state and by whether the original contract allowed for finance charges. Many small-business invoicing agreements allow a 1.5% monthly service fee on past-due balances; some states cap this at lower rates. Check your original invoice terms and your state's usury limits before adding any rate to the plan — or just charge zero and focus on getting paid.
What happens if the customer defaults on the plan?
Your plan should include a cure-on-default clause that accelerates the remaining balance and restores your right to pursue the full original amount plus any agreed fees. Get this language reviewed by an attorney — the exact wording matters for enforceability.
How should I note the plan on the original invoice?
Keep the original invoice open and add a memo line like 'Payment plan agreed on YYYY-MM-DD — see attached schedule.' Record each installment payment against the original invoice rather than creating new invoices per installment; it keeps your AR aging accurate and simplifies reconciliation in QuickBooks.
Plans collect when someone calls.
Syntharra can offer a payment plan during the call automatically — the debtor hears the installment math in real time, and Stripe takes the first payment on the spot.
See how Syntharra works →