Debt negotiation
Debt negotiation Debt negotiation describes the arrangement process between two parties- creditor and debtor, of changing the conditions of a debt contract. It comprises different options for settling and clearing a default amount, and the scheme often results in a decrease of the total debt amount or a modification and change of the debt agreement’s conditions. Broadly the definition refers to and comprises all types of default repayment plans and methods, which can help and assist a debtor to overcome a past-due liability situation.