Agreed period payments

An agreed period payment is a written agreement of credit under a consumer credit contract or by other regular payments which must:

• be in writing
• have regular payments over an agreed period
• be for the purchase of an essential household item (excluding laundrette costs and telephone rental costs), a vehicle or a dryer

The client must provide satisfactory verification that they have purchased the essential item and that they are making regular repayments towards the item.

Agreed period payments do not include:

• revolving credit payments
• Advance Payments of Benefits
• Recoverable Assistance Payments

For more information see:

• Allowable costs
• Hire or rental essential household items
• Consumer credit contract
• Revolving credit payments