Rescheduled loan

Rescheduled loan,

Definition of Rescheduled loan:

  1. New loan that replaces the outstanding balance on an older loan, and is paid over a longer period, usually with a lower installment amount. Loans are commonly rescheduled to accommodate a borrower in financial difficulty and, thus, to avoid a default. Also called restructured loan.

Meaning of Rescheduled loan & Rescheduled loan Definition