What you'll do
- Decide on an instalment amount and frequency
- Agree the schedule with Merion
- Make each instalment on time
- Track your reducing balance as you go
4 min read
How instalments work
An instalment arrangement spreads the balance over several smaller payments — weekly, fortnightly or monthly. Each instalment reduces what you owe until the account is cleared. It is the same idea as a payment plan, focused on the regular schedule.
To agree the terms, see our guide on how to set up a payment plan.
Step by step
- Work out an instalment amount you can sustain after your essential costs.
- Decide how often you will pay — weekly, fortnightly or monthly.
- Contact us through the Help Centre to agree the schedule and the start date.
- Make each instalment on the Pay your balance page, quoting your reference number.
- Set a reminder, or automatic payment, so no instalment is missed.
- Keep each receipt and watch the balance reduce.
Staying on schedule
The benefit of instalments is predictability — but only if each one is paid. If your circumstances change, contact us before a payment is due so the schedule can be adjusted. Communicating early keeps the arrangement in good standing.
Good to know
- Instalments spread the balance into regular, smaller payments.
- Agree the amount, frequency and start date in advance.
- Set reminders or automatic payments so none are missed.
- Contact us early if you need to adjust the schedule.
FAQ
How often can I pay instalments?
Weekly, fortnightly or monthly are all common. Choose the frequency that fits your income, and agree it with us.
Can I pay extra to finish sooner?
Yes. You can pay more than the instalment, or clear the balance in full, at any time on the Pay your balance page.
What if I miss an instalment?
Contact us as soon as you can. When we know in advance, adjusting the schedule is usually possible.
Still not sure? Our team is happy to talk it through.