The Pre-Arrears Action Plan (PRAP) is a set of procedures that credit institutions must adopt when they detect signs of risk of default in credit agreements or when bank customers inform them of difficulties in paying their debts.

In the event of detecting signs of risk of default, credit institutions are obliged to assess the financial capability of the bank customer and, whenever viable, to propose solutions to avoid default.

Bank customers who inform the credit institution of the risk of defaulting on their obligations are entitled to receive an information document describing their rights and duties.