Debt Relief
Reconfiguring debt in a way that gives you a reprieve from the burden of financial obligations and charges is called debt relief.
Debt relief may provide full relaxation or just partial alleviation. It may be punctual or long term but it is not a magic bullet solution.
Whether you chose to reduce the outstanding principal, renegotiate an interest rate or borrowed capital, or extend the term of your loans, keep in mind that creditors may not react favorably to adopting these measures. Measures such as these are often the recourse creditors will accept if the indebted party is very severely indebted and the risk warrants mitigation over contention.