Debt adjustment

Debt adjustment

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. [1]

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  • debt adjustment — ➔ adjustment * * * debt adjustment UK US noun [C or U] ► FINANCE the process of making a new legal agreement so a person, company, etc. which is in financial difficulties can pay back its debt more easily. The agreement includes new plans about… …   Financial and business terms

  • debt adjustment — n: the arrangements made for the repayment or satisfaction of debts in an amount or manner that differs from the original arrangements esp. in accordance with a bankruptcy plan under chapter 13 of the Bankruptcy Code Merriam Webster’s Dictionary… …   Law dictionary

  • adjustment — ad‧just‧ment [əˈdʒʌstmənt] noun [countable, uncountable] 1. a change that is made to something in order to correct or improve it: • We have made an adjustment to our target. • Grants are to be slashed by 33%, after adjustment for inflation. ˌcost …   Financial and business terms

  • debt — A sum of money due by certain and express agreement. A specified sum of money owing to one person from another, including not only obligation of debtor to pay but right of creditor to receive and enforce payment. State v. Ducey, 25 Ohio App.2d 50 …   Black's law dictionary

  • debt — A sum of money due by certain and express agreement. A specified sum of money owing to one person from another, including not only obligation of debtor to pay but right of creditor to receive and enforce payment. State v. Ducey, 25 Ohio App.2d 50 …   Black's law dictionary

  • Debt relief — is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and… …   Wikipedia

  • adjustment — I noun abatement of differences, accommodatio, accommodation, accord, accordance, adaptation, agreement, arrangement, attunement, bargain, binding agreement, coaptation, compact, composition, compromise, concurrence, conformance, conformation,… …   Law dictionary

  • Debt of developing countries — The debt of developing countries is external debt incurred by governments of developing countries, generally in quantities beyond the governments political ability to repay. Unpayable debt is a term used to describe external debt when the… …   Wikipedia

  • Adjustment Bureau — An organization that focuses on helping businesses collect outstanding debts from delinquent debtors. Adjustment Bureaus are also known as Collection Agencies. Most Adjustment Bureaus earn a percentage of the outstanding debt upon successful… …   Investment dictionary

  • Adjustment Bond — Issued by a corporation during a restructuring phase, an adjustment bond is given to the bondholders of an outstanding bond issue prior to the restructuring. The debt obligation is consolidated and transferred from the outstanding bond issue to… …   Investment dictionary

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