Repayment Plan

The article may contain affiliate links from partners. The words, opinions, and reviews are our own. Learn how we make money to support our financial wellness mission.

Repayment Plan is defined as a plan set up and agreed upon between a borrower and lender that determines the amount you pay each month and the number of payments you must make.

With past due payments, an agreement between a lender and a delinquent borrower where the borrower agrees to make additional payments to pay down past due amounts while making regularly scheduled payments.

Main Menu