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Debt Restructuring: Meaning, Process, and Key Types Explained
Debt restructuring is a process where a borrower—whether an individual, a company, or even a government—renegotiates the terms of their existing debt with creditors. The goal is to make repayment more manageable and avoid default. This usually involves lowering interest rates, extending repayment timelines, or in some cases reducing the total owed. Instead of resorting…