payment relief

Payment relief refers to measures that help individuals or businesses manage or reduce their financial obligations during challenging times. This can include temporary reductions in payments, extensions of due dates, or even forgiveness of part of the debt. Payment relief aims to provide financial breathing room for those facing hardships, such as job loss, medical emergencies, or economic downturns. It can be offered by creditors, government programs, or financial institutions, helping people avoid defaulting on loans or falling further into debt while they regain their financial stability.