Less than $2,500 More than $2,500
Always Never Sometimes

Forbearance

The term forbearance means that loan payments are postponed for a designated amount of time, which is temporary. The word forbearance is usually associated with student loans for college. Forbearance helps the person borrowing the money time to make up for the specified amount of money being overdue.

The forbearance on the student loan is good until six months after you graduate then the payments must come monthly so the loan can be paid back.

While the term forbearance is most commonly used in the student loan world, forbearance can also mean credit card forbearance; where a credit card company work with a borrower to delay credit card payments.

Click for the full glossary of credit card terms.

Similar Articles:

Credit Cards

Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!

Less than $2,500 More than $2,500
Always Never Sometimes