Forbearance Agreement - Commerce Bank 2025

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The document is a Forbearance Agreement for student loans, allowing borrowers to temporarily reduce or suspend payments due to financial hardship. It outlines the process for requesting forbearance, the implications of accruing interest during this period, and the borrower's agreement to repay the loan afterward. The maximum duration for forbearance is 12 months.

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Click ‘Get Form’ to open the Forbearance Agreement in the editor.
Begin by filling out the Borrower Information section. Enter your Name, SSN, Street Address, Phone Number, City, State, Zip Code, and E-Mail address accurately.
In the Borrower Request section, indicate your request for forbearance. Specify the reasons for your inability to make payments and ensure it does not exceed a total of 12 months.
Review the Borrower Agreement carefully. By signing this section, you confirm your intention to repay the loan and acknowledge that interest will accrue during the forbearance period.
Sign and date the form in the Borrower Signature section. If applicable, include a Co-Maker Signature.
Complete the Lender Section by providing details about the forbearance period and obtaining an authorized signature.

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What does forbearance mean in banking terms?

When youre entering into a forbearance agreement, youre not recording anything. The forbearance does not need to be docHubd.

What happens in a forbearance agreement?

The term forbearance refers to the temporary postponement of loan payments, typically for a mortgage or student loan. Lenders and other creditors grant forbearance as an alternative to forcing a property into foreclosure or leaving the borrower to default.