Grace Period: Canada Debt .ca defines Grace Period

Bankruptcy Term Grace Period

<<< Back

Canada Debt has the definition to the bankruptcy and debt term Grace Period. Finding answers to terms such as Grace Period can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Grace Period in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Grace Period' is used as follows:

The grace period is the time between the statement date and the payment due date, and is determined by the credit card issuer. The grace period usually varies between 15 and 26 days and is part of the interest-free period. The grace period may not apply unless you meet certain conditions.