Understanding How Finalized Plan Amounts Impact Monthly Payments
It's ok if your final invoice differs from your initial application amount!
Scratch Plans 12 Months, 24 Months, or Waived Interest Scratch Plans
If your total invoice is lower than the approved amount in your Scratch Plan, the practice will adjust your loan to match your actual invoice amount. You'll only be responsible for paying this final amount, and your payment schedule will be updated accordingly.
If your total invoice ends up being more than the amount you were originally approved for, you have two choices. First, you can make use of your existing Scratch payment plan for its full amount and then cover the remaining balance using a different payment method. Alternatively, you have the option to reapply for another Scratch Plan. However, approval is not guaranteed, even if you were previously approved.
Additional Information
Scratch Plan Bi-Weekly
If your total invoice ends up being more than the amount you were originally approved for, you have two choices. First, you can make use of your existing Take 5 payment plan for its full amount and then cover the remaining balance using a different payment method. Alternatively, you have the option to reapply for another Scratch Plan. However, approval is not guaranteed, even if you were previously approved.
If your total invoice is less than your approved Scratch Plan, the practice will finalize your loan for the actual amount of your invoice, and you will then only owe that final amount. The amount of your down payment will not change, but the subsequent four bi-weekly payments will be adjusted to each be 1/4 of the outstanding payment amount.
For example, suppose your original payment plan was for $1000, and you made a down payment of $200. If the final amount of your bill is only $600, each of your four remaining payments will be adjusted to $100 per payment.
Disclosures
Scratch Plans originated in the United States are issued by WebBank. Scratch Plans originated in Canada are issued by ©Scratch Financial, Inc. ©Scratchpay (NMLS ID#: 1582666). Scratch Plans are loan products subject to eligibility.