An advisor or money advisor is someone who works with you to evaluate your current circumstances, and work out how much you can afford to pay towards any debts. They can also help you to plan for any big life events. Often their services are offered free of charge.

Annual Statement

Statement from Arrow Global to a customer, informing them of the balance owing on their account.

Arrow Key

The unique identification number attributed to each customer account by Arrow Global. You will usually be asked for this number when you call to speak about your account.

Consumer Credit Act

(CCA) Request Under the Consumer Credit Act, you have the right to request a copy of your credit agreement from the creditor, along with a current statement of the account and the terms and conditions.

You can do this by writing directly to Arrow Global and making a request.

Credit Reference Agency (CRA)

The credit reference agencies (CRAs) provide information on individual credit history, including the payment of credit card debt, mobile phone and utility bills.


A creditor could be any company or individual who lends money, or provides a service or goods for a fee. This includes banks, mobile phone providers and mail order companies.

Debt Collection Agency (DCA)

Debt collection agencies (DCAs) collect payments on behalf of creditors.

Debt Management Plan

Also known as a DMP, a debt management plan is where you make monthly payments towards your debts at a level agreed between you and your creditor. It is an ideal solution for people struggling to keep up with their payments but who still have money available to pay towards their arrears after all essential living expenses.

In most cases the plan is arranged by a third party, for example, StepChange Debt Charity. They contact your creditors with a proposed schedule of reduced payments. If the creditors agree to the plan, you make one affordable payment to the third party every month, and they divide it between your creditors on your behalf.
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Fair Processing Notice (FPN)

Sometimes known as a privacy policy, this is a legal notice which explains how someone's personal data will be shared and what it will be used for.

Financial Ombudsman Service

The official independent expert for settling complaints between consumers and businesses providing financial services.

Notice of Assignment (NoA)

A notice of assignment (NoA) is sent to an individual when their account is purchased by another creditor from the original creditor.

The notice explains who owns the account, who to contact with queries about the account and may also explain how to make repayments.

Payment Plan

Any plan agreed between an individual and a creditor for the repayment of an amount owed.

Subject Access Request

A Subject Access Request (SAR) is a request to a creditor from an individual for a copy of all information relating to their account. The creditor then has 40 day to supply the information. There is usually a £10 fee associated with a SAR.

Third Party Debt Manager

A third party debt manager helps individuals or households to manage their debts.
The third party will contact your creditors on your behalf and arrange payments based on what you can afford. They will usually consolidate your payments into one monthly payment, meaning that you don't have to deal with multiple creditors.  Learn more