Arrangement to Pay is recorded on the borrower’s credit file when an agreement is made with the lender to raise/lower the cost of scheduled monthly payments at the request of the borrower.
You can check the status of your credit accounts by viewing your credit file. Any credit accounts reported with an Arrangement to Pay will be marked with an ‘AR’, so you can easily spot them.
An Arrangement to Pay can negatively impact your credit file, so it is not recommended requesting an Arrangement to Pay unless it is absolutely necessary.