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Missed Payment to trigger Change in Account Status

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Missed Payment to trigger Change in Account Status

We would like to create a custom field in Account object where it shows customer's status. Status are Active, In jeopardy, Closed. Our default status is Active for first time customers who has successfully paid for their subscription with monthly recurring billing. If they miss payment on the 2nd or nth month, we give them 3 days to sort out their payment method and if they still fail to update their payment within 3 days, we want to tag them as "In Jeopardy" for missing payment until it's automatically tagged as "Closed" after 30 days of no payment upon billing cycle end date. We have already created the custom field AccountStatus in Zuora and Salesforce. How should we approach this?