Debt Restructuring

Debt restructuring is a process that allows individuals or companies facing financial difficulty to reorganize their debt obligations. This can involve negotiating new terms with creditors, such as extending payment deadlines, reducing the total amount owed, or changing interest rates. The goal is to make the debt more manageable, enabling the borrower to recover financially while ensuring creditors can recoup some of their money. It can be a strategic move to avoid bankruptcy and regain financial stability.