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forbearance

 - 4 dictionary results

for⋅bear⋅ance

  [fawr-bair-uhns]
Use forbearance in a Sentence
–noun
1. the act of forbearing; a refraining from something.
2. forbearing conduct or quality; patient endurance; self-control.
3. an abstaining from the enforcement of a right.
4. a creditor's giving of indulgence after the day originally fixed for payment.
Origin:
1570–80; forbear 1 + -ance

Synonyms:
1. abstinence. 2. tolerance, toleration, sufferance; indulgence.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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for·bear·ance   (fôr-bâr'əns)   
n.  

  1. The act of forbearing.

  2. Tolerance and restraint in the face of provocation; patience. See Synonyms at patience.

  3. The quality of being forbearing.

  4. Law The act of a creditor who refrains from enforcing a debt when it falls due.

The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Financial Dictionary

Forbearance

A postponement of loan payments, granted by a lender or creditor, for a temporary period of time. This is done to give the borrower time to make up for overdue payments.

Investopedia Commentary

Basically, forbearance allows the borrower to put a temporary hold on his or her monthly payments, usually for up to one year. Forbearance is common for unemployed people with outstanding student loans.

Related Links

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See also: Bankruptcy, Credit, Credit Rating, Credit Risk, Creditor, Impaired Credit

Investopedia.com. Copyright © 1999-2005 - All rights reserved. Owned and Operated by Investopedia Inc.
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Legal Dictionary

Main Entry: for·bear·ance
Variant: also fore·bear·ance /for-'bar-&ns/
Function: noun
: a refraining from the enforcement of something (as a debt, right, or obligation) that is due
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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