loan deferment
Debt delay granted
Loan deferment is a temporary postponement of loan payments, typically granted during financial hardship, enrollment in school, or military service.
During deferment, interest may or may not continue to accrue depending on the loan type: She applied for deferment while finishing her degree.
Unlike forbearance, deferment often carries more favorable terms and formal approval from the lender.
- forbearancePatient self-control, delayed enforcement
- postponementDelaying to later
- grace periodAllowed delay before consequences
- moratoriumTemporary prohibition or delay
- extensionAdded part or duration
buy some time · repayment · hardship · economic hardship · suspension · delay · relief · catch a break · pause · temporary · rainy day · application · red tape · financial aid · interest · principal · forgiveness · default
loan defermentpayment due
Sum requiring settlement
prepayment · on-time payment · lump sum payment · balloon payment
loan defermentloan forgiveness
Cancellation of owed amounts
debt relief · debt cancellation · debt forgiveness · debt settlement
loan defermentforeclosure
Lender seizes mortgaged property
repossession · debt collection · wage garnishment · loan denial
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