Debt rescheduling

Short description: Form of debt modification

Personal finance

Credit · Debt

* Mortgage
* Car loan
* Charge card
* Credit card
* Unsecured personal loan
* Rent-to-own
* Student loan
* Pawn
* Title loan
* Payday loan
* Refund anticipation loan
* Refinancing
* Debt consolidation
* Bankruptcy

Employment contract

* Salary
* Wage
* Salary packaging
* Employee stock ownership
* Employee benefits

Retirement

* Pension

*     * Defined benefit
* Defined contribution
* Social security

Personal budget and investment

* Financial planner
* Financial adviser
* Stockbroker
* Financial independence
* Estate planning
* Target date fund

See also

* Bank
* Cooperative
* Credit union

* v
* t
* e

Debt rescheduling is the lengthening of the time of debt repayment by restructuring the terms of an existing loan.[1]

## Contents

* 1 Types of resecheduling
* 1.1 Approaches;
* 2 See also
* 3 References

## Types of resecheduling

In retail banking, the debt rescheduling can be applied for personal loans given to individuals as education loan, consumer credit, mortgage loan and loans given for making investment in financial assets such as equity shares, debenture, and bond (finance).[2] In North America and Europe, there are the portals which offers loan rescheduling/restructuring/consolidation via peer-to-peer lending marketplace such as Prosper Marketplace and LendingClub.[3][4]

### Approaches;

* Reduce payment amounts by extending the payment period and increasing the number of payments.[5]
* Pause payments by adding debt moratorium period in a loan term during which the borrower is not required to make any repayment but it increases the amount of the monthly instalments.[6]

## See also

* Loan modification
* Loan modification company

## References

1. ↑ O'Sullivan, Arthur; Sheffrin, Steven M. (2003). Economics: Principles in Action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. pp. 488. ISBN 0-13-063085-3. https://archive.org/details/economicsprincip00osul.
2. ↑ Bhasin, Tinesh (2020-08-06). "RBI allows banks to restructure retail loans" (in en). https://www.livemint.com/money/personal-finance/rbi-allows-banks-to-restructure-retail-loans-11596704487419.html.
3. ↑ Verstein, Andrew (2011-11-21) (in en). The Misregulation of Person-to-Person Lending. Rochester, NY. https://papers.ssrn.com/abstract=1823763.
4. ↑ "Umschuldungskredit" (in de-DE). https://www.kredit-vergleich.com/umschuldungskredit/.
5. ↑ "What is debt rescheduling?" (in en). https://help.october.eu/en/articles/2788481-what-is-debt-rescheduling.
6. ↑ "OECD Glossary of Statistical Terms - Debt rescheduling Definition". https://stats.oecd.org/glossary/detail.asp?ID=5926.

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