Loan Deferment
/ˈloʊn dɪˈfɜrmənt/
Definitions
- (n.) A temporary suspension or postponement of loan payments allowed by the lender, often granted due to financial hardship or special circumstances.
The borrower requested a loan deferment due to unexpected medical expenses.
Forms
- loan deferment
Related terms
See also
Commentary
Loan deferment is distinct from forbearance; it formally postpones payments without accruing interest in some cases, so precise terms should be clearly drafted.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.