loan adjustment

**Loan Adjustment**

Loan adjustment refers to the process of modifying the terms of an existing loan agreement, typically to make repayment more manageable for the borrower. This can include changes to the interest rate, loan tenure, monthly payment amount, or other loan conditions. Loan adjustments are often sought in response to financial difficulties, changes in income, or economic downturns, helping borrowers avoid default and lenders reduce the risk of non-payment. Common types of loan adjustments include interest rate reductions, extension of repayment periods, and temporary payment deferrals.