payment plan

Definition

A plan for paying any outstanding debts. Different types of financing involve payment plans including mortgage loans, vehicle loans, and student loans. Within a payment plan, the borrower agrees to pay back a certain amount of money each month to repay the debt. Other types of payment plans, such as credit cards, will require a more flexible payment plan, with different amounts due each month. Prepayments may also be part of a payment plan where customers prepay for merchandise on a specified plan before actually receiving the merchandise.

单词	payment plan
释义	payment plan Definition A plan for paying any outstanding debts. Different types of financing involve payment plans including mortgage loans, vehicle loans, and student loans. Within a payment plan, the borrower agrees to pay back a certain amount of money each month to repay the debt. Other types of payment plans, such as credit cards, will require a more flexible payment plan, with different amounts due each month. Prepayments may also be part of a payment plan where customers prepay for merchandise on a specified plan before actually receiving the merchandise.
随便看	fair notice fair price requirement fair rate of return fair rental value fair rental value coverage fair trade fair trade price fair value fair value accounting fait accompli faithful representation fake claims faking the count fallacy of composition fallback position fallen angel fallen building clause false false breakout False Claims Act false consensus effect false market false pretenses family Family and Medical Leave Act (FMLA)