There are three options for those that don’t opt for restructuring:
In order to reduce financial distress, renegotiating one’s debts can help in the following ways:
Essentially, loan restructuring could be beneficial to both the borrower of the personal loan to continue their repayments with reduced stress, as well as for the lending institutions to show for non-performing assets this financial year.
If you are someone who has opted for a personal loan and now needs to decide whether to opt for loan restructuring, it would be critical to check your EMI to plan for your payments. A simple way to check this is through a Personal Loan EMI Calculator. All you need to do is to input your loan amount, rate of interest and tenure of the loan. The benefit of using the Personal Loan EMI Calculator is that once you have a clear estimate of your EMI payments, you can negotiate on the rate of interest or loan tenure during loan restructuring in order to meet your payments regularly.
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