Typically, budgeting and planning systems are predicated on single views of the future, with adjustments made as necessary through variance analysis, contingency planning, rolling budgets, and periodic renegotiations.
en.wikipedia.org The authors of the analysis argue that banks don't typically renegotiate because they expect to make more money with a foreclosure, as renegotiation imposes self-cure and redefault risks.
en.wikipedia.org As of 2009 renegotiation of these loans (principal, interest and penalties) was still underway, thus cutting off the utilities from new government loans.
en.wikipedia.org These same countries frequently defaulted during the nineteenth century, but the situation was typically rapidly resolved with a renegotiation of loans, including the writing off of some debts.
en.wikipedia.org