If you want to remove the payment plan from the email, simply disabling the payment plan settings will not automatically remove it from the payment reminder email.
You will need to adjust the settings specifically related to the payment plan within your account.
To ensure it's removed, follow these steps:
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Log into your Pencil account.
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Go to: Settings -> Payment Plans -> Payment Plan Settings.
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Configure the setting "Enable payment plan after days overdue" to a high value, such as 600 days, if you don't want customers to manually set up their own payment plans.
This way, the payment plan option will not appear in the payment reminder emails sent to your customers until the invoice is 600 days overdue.