Forbearance
Debt, arrears & collectionsTemporary relief or flexibility granted by a lender during financial difficulty.
Overview
Forbearance can include reduced payments or pauses.
Terms are agreed with the lender and may be recorded.
Why it matters
- It can help avoid missed payments.
- It may affect how lenders view your profile.
- It is usually temporary.
FAQs
Does forbearance affect my credit score?
It depends on how it is reported. It may still be visible to lenders.
Is forbearance the same as a payment holiday?
It is similar, but terms vary by lender.
Related terms
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