Top Question:

What is a repayment plan?

Best Answer:

A repayment plan is a structured way to make up missed loan payments over a certain period of time. It is an agreement that allows the borrower to pay the regularly scheduled payment amount plus an additional amount each month to bring the account to a current status. The terms of repayment plans will differ depending on the type of loan you have.

Please note: Payment assistance and loan relief options will vary depending on your loan type and financial situation. Arvest Bank wants to assist you whenever possible. Contact us at the earliest indication of a potential problem with your payment: