Repayment Plan
/rɪˈpeɪmənt plæn/
Definitions
- (n.) A structured agreement outlining the schedule and amount by which a debtor will repay a debt.
The debtor agreed to a repayment plan to pay off the loan over 24 months.
Forms
- repayment plan
- repayment plans
Related terms
See also
Commentary
Repayment plans are often negotiated to avoid default and formal insolvency proceedings; clarity in terms helps prevent disputes.
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.