"payment extension" is correct and usable in written English.
It typically means granting an additional period of time for a payment. For example, "The customer requested a payment extension for her car loan."
The payment extension must be approved by the City Council, but Mr. Bloomberg and other officials said they expected the measure to pass at the Council's next scheduled meeting, on Dec. 10.
WALL STREET JOURNAL Unemployed Borrowers Get Payment Extension | Freddie Mac and Fannie Mae said they would extend existing programs to allow jobless homeowners to defer part or all of their monthly payments, The New York Times reports.
By payment extension date, the company receiving the credit essentially could sell the goods and use the credited amount to pay back the debt.
Witness the problems that the state experienced last November when it couldn't issue checks to unemployed workers whose benefits had run out before Congress authorized a payment extension.
In fact, if you only need a little time to scare up the cash, you may be better off asking the IRS for a short-term payment extension, which carries no fees and gives you up to 120 days to pay in full.
Catalyst agreed to a one-year payment extension on Relativity's debt and is also investing $170 million of equity. .
Debt collectors, who are typically paid based on the amount of money they recover, report that the number of troubled borrowers getting payment extensions has at least doubled in the last six months.
The increase in payment extensions is a driving factor behind an approximately 20% drop in service disconnections last year compared with the previous year, Vallier said.
CITY HALL — Payment extensions granted to Glendale Water & Power customers increased last year as residents continued to struggle to pay their utility bills, officials said this week.
The company also offers payment extensions if you can't make a payment date and no penalty for paying off your loan early, if you want to save on interest.
Features: Rise offers the same kind of features that LendUp does, including direct deposit into your checking account, automatic withdrawals for paying the loan back, payment extensions and no penalty for early payoff.
