Debt Adjustment

Debt adjustment refers to the process of negotiating changes to the terms of a person's or business's debt obligations. This can involve reducing the total amount owed, lowering interest rates, extending repayment periods, or altering payment schedules. The goal is to make debt more manageable and help the borrower avoid default or bankruptcy. Debt adjustment can be facilitated through professional services, such as credit counseling agencies, or through direct negotiations with creditors. It aims to provide relief and a clearer path to financial stability for those struggling to meet their debt obligations.