Average Monthly Payment (AMP) Plan Details
The AMP plan is calculated monthly based on the current twelve month average which fluctuates slightly. This plan recalculates each month which avoids the potential of accumulating a large settlement balance, or credit, at the anniversary month.
- At the anniversary month, any remaining balance or credit is divided by twelve and applied to the AMP monthly payments for the next twelve months.
- Settlement occurs only when participation in the plan is terminated due to the account becoming delinquent, the account closing or you request to be removed from the plan.