Debt restructuring is a process that allows individuals or businesses to renegotiate the terms of their debts with creditors. This often involves changing the interest rates, payment schedules, or even the total amount owed to make the debt more manageable.

Cancelling a debt restructuring plan usually involves contacting your debt counsellor or the financial institution that helped set up the plan. Be aware that cancelling may have financial implications, including reverting to the original terms of your debts..

The meaning of debt restructuring is to modify the existing terms of a financial obligation, either owed by an individual or a business, to make it more manageable and easier to repay.

Debt restructuring works by negotiating new terms for existing debts. This can involve extending the repayment period, reducing the interest rate, or consolidating multiple debts into one. The aim is to make the debt more manageable.

In South Africa, debt restructuring is a regulated process governed by the National Credit Act for individuals and the Companies Act for businesses. It involves registered debt counsellors who help negotiate new terms with creditors.

Loan Modification: Changing the terms of an existing loan.
Debt Consolidation: Combining multiple debts into a single loan.

Corporate debt restructuring involves renegotiating the terms of debts owed by a business. This can be a complex process involving multiple stakeholders, including banks, suppliers, and investors.

Debt restructuring means renegotiating the terms of existing debts to make them more manageable. This can involve a variety of strategies, including reducing interest rates, extending the repayment period, or consolidating multiple debts.
For more information, consult a registered debt counsellor or financial advisor to discuss your specific needs and circumstances.