Accounts classified into categories according to the time past due. Common classifications are 30, 60, 90 and 120 days past due. Special classifications also include charge-off, repossession, transferred, etc. Credit Availability: It is the amount of credit available on your credit account, which can be calculated by subtracting credit balance from the credit limit. Also known as 'credit available' or 'percentage of credit currently available'. Forbearance: Forbearance is the act of postponing foreclosure, so as to allow time to the borrower to pay overdue payments.
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