What does it mean to restructure debt?
Debt restructuring is the process by which a significant portion, usually 60-80% is extinguished while the remainder gets paid off over a period of up to 5 years interest-free. It is principally a method to avoid bankruptcy. Creditors like it because they get something in return on what they have lent out. In comparison, a bankrupt … Continue reading What does it mean to restructure debt?