Sometimes bankruptcy is not the right solution to an individual’s financial problems. There are circumstances under which an individual is better served by negotiating with creditors for financial relief. Depending on the individual’s particular circumstances, negotiating with a creditor for a change in the terms of an original loan agreement may be a better course of action. A creditor may agree to restructure the terms of an original loan to cure past due amounts or to change the interest rate or extend the period of time in which a loan must be repaid. Although creditors are not required to change the terms of a loan agreement or enter into settlement agreements, sometimes they will agree to do so. When the original terms of a loan are changed or restructured, the process is frequently called a “loan workout”.