An arrangement is a plan, and plans sometimes hit bumps. If your company cannot meet a payment under an agreement we set up, the most important thing is to tell us before the payment is due, not after it has been missed.
Why the arrangement matters
When we agree an arrangement, we hold off the normal chasing on the basis that the new plan will be kept. If a payment is missed without warning, that trust is what breaks first, and the account can revert to the standard recovery path.
What to do if you are about to miss one
- Contact us as early as you can, ideally before the due date.
- Explain what has changed since the arrangement was set up.
- Tell us what the company can realistically pay now.
Can the arrangement be changed?
Often, yes. If your company's circumstances have shifted, we can review the arrangement rather than simply tearing it up. An arrangement that no longer fits reality is not much use to anyone, so a revised, workable plan is usually the better outcome.
What to avoid
Do not let a missed arrangement payment slide into silence. That is what turns a small wobble into a serious problem. Whether you hold Credicorp Flex or Credicorp Slice, a quick call keeps your options open and your account on a manageable footing.
See also: How we decide on a payment arrangement for your company, What to do if you miss a payment on your Credicorp loan, What happens to my arrangement if my circumstances change again?.