---
schema_version: "1"
id: dfa58adb0b6ae36110700c18f7e81e895d355c271d23a33ff53dfa233b7626b1
title: Create Payment Plans to Manage Financial Hardships
collection: admin
version: current
locale: en-us
portal_url: https://docs.salesforce.com/admin/current/en-us/ind/264-0-0/collections_create_payment_plans_to_manage_financial_hardships.md
canonical_url: https://help.salesforce.com/s/articleView?id=ind.collections_create_payment_plans_to_manage_financial_hardships.htm&release=264.0.0&type=5
source_site: help.salesforce.com
content_type: documentation
content_hash: a0117489b2a379a97fbd73e90a3e28199fa15a6f62358b98a27a3dc5da8a9339
description: As a collections specialist, create a payment plan from the collection plan record details page. Collections and Recovery offers flexible payment plans to customers based on their financial account types and their financial hardship situations.
products:
  - Industry Solutions
  - Cross Cloud
release: "264"
---
# Create Payment Plans to Manage Financial Hardships

As a collections specialist, create a payment plan from the collection plan record details page. Collections and Recovery offers flexible payment plans to customers based on their financial account types and their financial hardship situations.

### Required Editions

<table class="slds-table slds-table_bordered slds-max-medium-table_stacked slds-m-bottom_small edition"><colgroup><col></colgroup><tbody><tr class=""><td class="slds-cell-wrap" style="vertical-align:top;">Available in: Lightning Experience</td></tr><tr class=""><td class="slds-cell-wrap" style="vertical-align:top;">Available in: <a href="https://help.salesforce.com/s/articleView?id=ind.collections_editions_permissions.htm&amp;release=264.0.0&amp;type=5" title="Review the supported products, editions, and permissions for Collections. Then learn how your product handles permissions and how to assign them.">View product and edition availability.</a></td></tr></tbody></table>

<table class="slds-table slds-table_bordered slds-max-medium-table_stacked slds-m-bottom_small permission">
        <colgroup>
          <col style="width:50%">
          <col style="width:50%">
        </colgroup>
        <thead class="slds-text-title_caps ">
          <tr class="">
            <th scope="colgroup" class="slds-cell-wrap" colspan="2" style="text-align:center;vertical-align:top;" id="d16795e68">User Permissions Needed</th>
          </tr>
        </thead>
        <tbody>
          <tr class="">
            <td data-label="User Permissions Needed" class="slds-cell-wrap" style="vertical-align:top;" headers="d16795e68 ">To create a payment plan: </td>

            <td class="slds-cell-wrap" style="vertical-align:top;" headers="d16795e68 ">Collections and Recovery Specialist</td>

          </tr>
          <tr class="">
            <td data-label="User Permissions Needed" class="slds-cell-wrap" style="vertical-align:top;" headers="d16795e68 ">To access financial account and related standard objects: </td>

            <td class="slds-cell-wrap" style="vertical-align:top;" headers="d16795e68 ">
              <p>Financial Services Cloud Extension</p>
              <p>OR</p>
              <p>FSC Foundation</p>
              <p>OR</p>
              <p>FSC
                Service</p>
              <p>OR</p>
              <p style="margin-bottom:0;">FSC Sales</p>
            </td>

          </tr>
        </tbody>
      </table>

You can create payment plans only for Financial Services Cloud customers.

1. From the App Launcher, find and select **Collections**.
2. To launch a collection plan record details page, from the collection plans section, click a collection plan.
3. Click the **Payment Plans** tab.
4. Click **New Payment Plan**.
    
    You can create a payment plan only when the collection plan has an associated financial account and no active payment plans are linked to it. Additionally, a collection plan can have only one active payment plan associated with it at a time.
5. Select a payment plan type that is feasible for your customers, and click **Next**.
6. View the selected payment plan type, and click **Next**.
7. Review the payment plan summary, and click **Next**.
8. To view the newly created payment plan, go to the Payment Plans tab on the collection plan record details page.
    
    A payment schedule record and payment schedule item records are created to manage the payments for the newly created payment plan.