What is another word for true up?
[ tɹˈuː ˈʌp], [ tɹˈuː ˈʌp], [ t_ɹ_ˈuː ˈʌ_p]
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Similar words for true up:
Synonyms for True up:
n.• true up (noun)
v.• Other relevant words: (verb)
Other synonyms:• Other relevant words (noun):
- set right,
How to use "True up" in context?
Most people believe that up means go up. But up in the context of the financial world means to definitely settle an obligation you have with a creditor. When you true up with a creditor, you agree to pay them all the money you owe them in one lump sum. This is usually done to reduce interest payments and avoid late fees and other collection penalties.
True up is also a way to make sure that your outstanding balance on your debt is as close to zero as possible. If you have a very large debt that you are struggling to pay, true up can be a viable option.
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