cancel
Showing results for 
Search instead for 
Did you mean: 

Private Loan Forebearance

tag
tullz85
Frequent Contributor

Private Loan Forebearance

Hi - I have a private loan. Is it bad for it to go to Forebearance for 3 months?
Message 1 of 2
1 REPLY 1
Anonymous
Not applicable

Re: Private Loan Forebearance

It's neither bad nor good.  Interest still accrues and will be capitalized after the forbearance ends, so you'll owe more, but if you can't pay then forbearance will prevent default.

 

I really don't understand what the big deal about "capitalization" is.  If I stopped paying my car loan, interest would still accrue and I'd have to pay it all anyway.  Same with credit cards.

Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.