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Restructure Debt | DEBT TRAP
Credit providers say that if you’re battling to service your debt, you must speak to them and they’ll “make a plan”. They will, but don’t expect them to restructure your debt or give you the same concessions that they give to consumers in debt counselling. When debt is “restructured”, it means that the terms of a credit agreement are changed. These changes may include a reduced interest rate or an extended loan term. Debt restructuring is done via a negotiation …