What is meant by "Re-scheduling of payments" in respect of a Bank Loan?

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Posted by:
Muhammad Rashid
17-May-2015

Accounting Term Loans Financial Accounting Bank Accounting Banking

Question ajoutée par VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.
Date de publication: 2015/01/13

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par Asim Azaldeen Abdalrahman Mhammed , Property Manager , TAAM PROPERTY

Agreed with venkitarman

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par Utilisateur supprimé

agreed with gentlemen

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par VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Rescheduling of Payment : Rearranging the repayment of a debt over a longer period than originally agreed upon due to financial difficulties of the borrower.

This is helpful for avoiding overdue interests or attracting penal interests on account of delayed payments when the loan is left as it is with the intention of making delayed payments of the installments/lump sum payment.

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