Terminology - Financial Planning: Debt Restructuring

Terminology - Financial Planning: 
Debt Restructuring

Normally personal finance portfolios have various liabilities - housing loan, personal loan, mortgage loan, credit card loans.

They all have different rates of interest, diminishing balance versus (Vs) compound rates, fixed rates Vs floating rates, tenure of repayment, norms for pre-closure.


They vary with changes in interest rate. Finanial planners take a view on your situation to minimize your outgo of interest payment which helps in building your savings. They may also recommend closure of some loans immediately or / changing the tenure.
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