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Debt relief
DEBT RELIEF

Definition: (economics) When a bank tells a person, a company or a government that they do not have to pay the money they owe the bank.
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* All six elements should be in.


1. Purposeful and necessary, especially for the beneficiary.

2. Requested and/or negotiated, at whatever cost. (To emphasize.)

3. Repayment was seemingly difficult or improbable at the time.

4. Given timely for the full benefits of the 'grace' to be enjoyed.

5. Doesn't stop the former debtor from applying for a fresh facility.

6. Grant of relief achieves goal(s) or serves purpose(s), for all.
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>> always brings 'a sigh'.

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