What Are the Different Types of Debt Relief?

Debt relief refers to reducing the debtor's repayment amount, and the debtor only needs to repay part of the loan. Debt relief is a practice that requires all creditors to accept a partial repayment and forgo the full debt claim.

Debt relief

Right!
Debt relief refers to reducing the debtor's repayment amount, and the debtor only needs to repay part of the loan. Debt relief is a practice that requires all creditors to accept a partial repayment and forgo the full debt claim.
Chinese name
Debt relief
means
Reduce the debtor's repayment amount
Purpose
Helping the debtor get through
Prevent
Non-payment of all debts
purpose
The purpose of debt relief is to help the debtor get through the difficulties, and at the same time prevent the debtor from paying off all the debts due to excessive pressure on debt repayment. If some creditors do not agree with debt relief, they can only repay their borrowings in full.

IN OTHER LANGUAGES

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