\for a note receivable, if the original terms of the debt are changed due to financial difficulties of the borrower, this is referred to as a

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08-11-2022
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\for a note receivable, if the original terms of the debt are changed due to financial difficulties of the borrower, this is referred to as a

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Qwpanda Qwpanda · Answer 1 · 2022-11-14T10:32:54+01:00

For a note receivable, if the original terms of the debt are changed due to the borrower's financial difficulties, this is referred to as a troubled debt restructuring.

A trouble debt restructuring means a restructuring of debt in which a creditor for any economic or financial reason related to any difficulty related to finance or money, in which a concession is granted. In order to consider trouble debt restructuring the person who has taken any debt must be experiencing financial difficulties and the person who has loaned him the money must grant a concession due to the debtor's financial problems.

To learn more about the economy, finance, and debts,

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