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Definition: (technical) The act of allowing money that is owed to be paid at a later date.
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* All six elements should be in.


1. Purposeful, especially for debtor, to reschedule repayment.

2. Considered a necessity, by creditor, to allow a rescheduling. And creditor did not succumb to a pressure before permitting arrangement.

3. Request was made by debtor for new date, whether or not a justification or reason is provided (to emphasize).

4. Discussions on time and other applicable term(s), if any, are conclusively held between, and agreed to, by the parties involved.

5. Arrangement is honoured. That is, repayment will happen on the rescheduled date, as agreed during previous discussion, signed or not.

6. (Reserved.) (Allowance occurs only once, on particular amount of money. That is, there will be no rescheduling of debt a second time!)
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See perfect DEBT (2).

See perfect BAD DEBT.

See perfect DEBTOR.

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