By modifying the loan terms, borrowers can achieve lower monthly payments, making them more manageable and affordable within their current financial capacity.
Loan restructuring provides temporary relief from financial stress and the immediate burden of high loan payments. It allows borrowers to regain control over their finances and stabilize their economic situation.
Loan restructuring offers an alternative to loan default, which can have severe consequences for borrowers, including damage to credit scores, legal actions, and potential asset seizures. Restructuring helps borrowers stay on track with their loan repayments.
Restructuring provides borrowers with flexible repayment options that align with their financial situation. It may include extending the loan tenure, reducing interest rates, or even granting a temporary moratorium on payments.