Debt restructuring in New Jersey offers individuals and businesses a way to manage overwhelming debt by modifying repayment terms. This process can involve negotiating with creditors, consolidating multiple debts into a single loan, or pursuing legal options like bankruptcy. Adjusting interest rates, extending repayment periods, or reducing the total amount owed can provide relief for those struggling to meet financial obligations. Whether due to job loss, medical expenses, or business downturns, restructuring allows borrowers to regain control and work toward financial stability without defaulting.
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