debt adjustment

Definition of "debt adjustment"
  1. It's a method of reorganizing the repayment or clearance of debts in a way that deviates from the preliminary agreements, often in line with a Chapter 13 bankruptcy plan
How to use "debt adjustment" in a sentence
  1. To clear his financial difficulties, the businessman had to make a debt adjustment as part of his Chapter 13 bankruptcy plan.
  2. The law firm assists clients in figuring out a debt adjustment strategy when they are unable to pay their debts.
  3. The creditor accepted the proposed debt adjustment, which gave the debtor more time to clear his obligations.

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