A payment plan is an interest-free opportunity to spread your payments out over time. It's an opportunity for your provider to let you pick a payment schedule that works for you. Payment plans are automated by Peachy. Your provider sets the terms that they are willing to offer (3, 6, 9, or 12 months) and then you select which offered option will work for you. The total bill is then divided into the number of months of the payment plan terms. For example, a $1,000 bill on a 3 month payment plan would require 3 payments of $333.33.