Individual Debt Adjustment

Individual Debt Adjustment is a legal process that helps a person reorganize or reduce their outstanding debts, often through court-approved plans. It typically occurs when someone can't fully pay what they owe, and it aims to make debt repayment more manageable. Depending on the situation, part of the debt may be forgiven, or repayment terms may be extended. This process ensures fair treatment for both debtors and creditors while providing a structured way for individuals to regain financial stability.