forbearance

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.

(for-BAIR-uhns)

noun
1. Refraining from enforcing something, such as a right or a debt.
2. Tolerance, patience, restraint, or leniency.

Etymology
From forbear, from Old English forberan (to endure), from for- (away) + beran (to bear)

Usage
"Now the Buddhists are fighting back -- with good thoughts, forbearance and chanting." — Tim Elliott; Chant of the Scrub Turkey; Sydney Morning Herald (Australia); Jun 19, 2007.

---

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 Says:
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:
Do you know how your borrowing activities affect your credit rating? Find out here. The Importance of Your Credit Rating

1. Lender's decision not to exercise a legally enforceable right against a borrower in default, in exchange for a promise to make regular payments in the future. For example, a mortgage lender will agree not to initiate foreclosure proceedings against a mortgagor whose loan is in arrears.

2. Temporary relief granted a bank by a regulatory agency from compliance with minimum capital requirements or other banking regulations, extended to financial institutions in economically depressed areas. Banks given capital forbearance must file a plan to restore their capital base within a specified period.

A policy of restraint in taking legal action to remedy a Default or other breach of contract, generally in the hope that the default will be cured, given additional time.Example: Because of a slowdown in the local economy, loan delinquencies increased dramatically at First Savings. Considering that most of the borrowers were long-term customers of the bank and had always honored their commitments, First Savings adopted a policy of forbearance in dealing with overdue payments. Every effort would be made to avoid foreclosure and give the borrowers time to bring the loans up to date.

noun

1. The capacity of enduring hardship or inconvenience without complaint: long-suffering, patience, resignation, tolerance. See accept/reject.
2. Forbearing or lenient treatment: charitableness, charity, indulgence, lenience, leniency, lenity, tolerance, toleration. See accept/reject.

n

Definition: resisting, avoidance
Antonyms: continuation, impatience, indulgence, involvement, pursual, use

---

This entry contains information applicable to United States law only.

Refraining from doing something that one has a legal right to do. Giving of further time for repayment of an obligation or agreement; not to enforce claim at its due date. A delay in enforcing a legal right. Act by which creditor waits for payment of debt due by a debtor after it becomes due.

Within usury law, the contractual obligation of a lender or creditor to refrain, during a given period of time, from requiring the borrower or debtor to repay the loan or debt then due and payable.

IN BRIEF: Willingness to wait.

There is, however, a limit at which forbearance ceases to be a virtue. — Edmund Burke (1729-1797).