What Does Deferring A Loan Mean?


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Laura Schmid Profile
Laura Schmid answered

When it comes to loans or any act of borrowing financial assistance from a moneylender or from a bank you will eventually know about deferment.

Deferment or what can be called Forbearance, it allows you to stop (temporarily) your federal student loan payments. Or even temporarily reduce the amount you pay.

Anonymous Profile
Anonymous answered
if it is a payday loan, you pay a small amount till the next month you get paid. You do this if your struggling to repay it.
If its for a bank loan and its a defferal for a few months before you start to pay back any money use this time wisely to save for your repayments

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