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Posted On: September 2, 2010 by Scott Sagaria

What is a Forbearance Agreement?

A San Jose bankruptcy attorney addresses: What is a Forbearance Agreement?

A forbearance agreement is an agreement between two or more parties wherein an obligation to do something is either postponed, reduced, or suspended for a limited specific amount of time period. A forbearance agreement is most often seen through student loans wherein the student is not obligated to begin repaying the student loan debt until he or she discontinues their education. Usually, interest continued to accrue on the principal balance of the loan over the forbearance period to which the borrower is later responsible for. Forbearance agreements also occur in other types of loans such as mortgages and automobile loans, though far less frequent.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

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