You need to go to "Settings" > "Billing" > Tick the box "Deactivate subscriptions when payments fail" that will allow you to activate the "Cancel associated bookings for subscriptions when payments fail"

Click on "Update" to save the settings.

The sessions booked with the pass linked to the subscription will be automatically cancelled. The credits will be refunded. Warning : once the invoice paid, you will need to book the sessions again.