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Debt adjustment
Form of debt relief
Form of debt relief
Debt adjustment is a form of debt relief that allows a government, organization, corporation, or individual to repay a debt over a longer period of time and with smaller payment amounts than the lender and borrower originally agreed upon. It is an alternative to bankruptcy. Debt settlement is a form of individual debt adjustment.
In the United States, law firms point out that Chapter 13 Individual Debt Adjustment is much less expensive and complicated than Chapter 11 Reorganization.
References
References
- [http://www.winterslawfirm.com/custom3.html Winters Law Firm]
This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.
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