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Managed arrears are a positive signal
Agreeing a payment plan with a supplier — spreading an overdue balance over a few months — shows you are dealing with pressure responsibly. A lender reads that far better than mounting unpaid invoices left unaddressed.
Where it counts against you
The plan absorbs cash each month, so it reduces what is available to service new borrowing. If several such plans are running, the combined drain matters for affordability. A single, small plan is minor.
Applying
Disclose the plan and its monthly cost, then apply online. Credicorp lends with no personal guarantee.
Frequently asked questions
Should I mention a supplier payment plan when applying?
Yes. Disclosing a managed arrangement, with the monthly amount, shows control and helps the lender assess affordability accurately.
Will a payment plan reduce how much I can borrow?
It can, because it uses cash each month. A small plan has little effect; several running at once reduce headroom for new repayments.
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