Debt relief

<p>Debt relief or debt cancellation is the partial or total forgiveness of <a href="/facts/Debt/VDKsvv1q">debt</a>, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations.
</p><p>From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and freeing of debt slaves. In World War I the United States Treasury made large loans to the Allies that were postponed, reduced and <a href="/facts/London_Agreement_on_German_External_Debts/AGDxquSw">finally paid off in 1953.</a> In the late 20th century, it came to refer primarily to <a href="/facts/Third_World_debt/kI2rkYQR">Third World debt</a>, which started exploding with the <a href="/facts/Latin_American_debt_crisis/vsxAam1m">Latin American debt crisis</a> (Mexico 1983, etc.). In the early 21st century, it is of increased applicability to individuals in developed countries, due to <a href="/facts/Credit_bubble/3ce4rRct">credit bubbles</a> and <a href="/facts/Housing_bubble/DSsFEAHz">housing bubbles</a>.
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Debt relief open-in-new

Debt relief