Debt Rescheduling


DEFINITION of 'Debt Rescheduling'

A practice that involves restructuring the terms of an existing loan in order to extend the repayment period. Debt rescheduling may mean a delay in the due date(s) of required payments or reducing payment amounts by extending the payment period and increasing the number of payments.

BREAKING DOWN 'Debt Rescheduling'

Debt rescheduling is one way to provide a borrower with relief when needed due to an economic downturn or other unforeseen personal event (i.e. job loss, illness etc.).

  1. Debt Ratio

    A financial ratio that measures the extent of a company’s or ...
  2. Debt Discharge

    The cancellation or forgiveness of a debt. Debt discharge results ...
  3. Debt

    An amount of money borrowed by one party from another. Many corporations/individuals ...
  4. Secured Debt

    Debt backed or secured by collateral to reduce the risk associated ...
  5. Debt Restructuring

    A method used by companies with outstanding debt obligations ...
  6. Unsecured Debt

    A loan not backed by an underlying asset. Unsecured debt includes ...
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  1. Are secured personal loans better than unsecured loans?

    Secured loans are better for the borrower than unsecured loans because the loan terms are more agreeable. Often, the interest ... Read Full Answer >>
  2. Can personal loans be included in bankruptcy?

    Personal loans from friends, family and employers fall under common categories of debt that can be discharged in the case ... Read Full Answer >>
  3. Can Sallie Mae loans be consolidated?

    Sallie Mae loans can be consolidated with other federal loans, but not with private loans. For federal loan consolidation, ... Read Full Answer >>
  4. How does Sallie Mae disburse funds?

    Sallie Mae is the number one provider of financial aid and student loans in the United States, servicing over 25 million ... Read Full Answer >>
  5. Do Sallie Mae loans go directly to your school?

    Sallie Mae is the biggest provider of financial aid and student loans in the United States. The company operates as a private ... Read Full Answer >>
  6. Can Sallie Mae garnish my wages?

    Private lenders such as Sallie Mae can garnish wages. In the case of federal student loans, the government has the power ... Read Full Answer >>

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