As of late, I've been thinking on the topic of payment plans a fair deal, given the demand for them, and I have restructured payment plans, going forward. To date, my payment plans were based around the minimum monthly payment of 50$, with interest being added dependent upon how long the client in question has been paying off the debt.
For the sake of ease in understanding the numbers, for both my clients and myself, I've changed the details of such plans. Going forward, the terms are as follows (taken from my page on this site on that subject):
"If you are in a situation wherein you are unable to afford my work, for the most part, I am willing to setup a payment plan for you. The terms of such an agreement are fairly straightforward:
- I will not accept monthly payments for baneful work.
- The minimum monthly payment is 50$.
- Each monthly payment must be received by the 7th of the month.
- All payment plans will have compound interest attached to them, at the rate of 10%. Interest will be added to the amount at the end of the month.
- I reserve the right to decline to setup a payment plan with clients, and I reserve the right to change these terms at any time. The change in terms will not affect payment plans that are ongoing at the time of the change."
That being said, payment plans that are currently in effect will not be modified unless further charges are added to the debt. If that is the case, I will discuss this on an individual basis.
Finally, in the cases of nonpayment, I've, unfortunately, had a couple of clients who've elected to decline to pay their debts. For those of you who've decided to take this route, please be aware that the work I've done for you has been canceled, and instead of receiving boons, you will receive the opposite in turn.