1. Debt consolidation is the grouping of similar debts (such as credit cards) into a single monthly payment with the objective of simplifying or reducing payments, since, when consolidating, the minimum monthly payment will be much lower than the sum of the payment of all your debts because it is concentrated in a single account with a lower interest rate.
2. Debt restructuring or refinancing, asking the financial institution for an extension of the payment term of your debt, in order to pay less each month, although this would increase the interest.
3-Decrease the interest so that the debt payment time is shortened, this implies that you pay more each month.
This restructuring helps to get out of debt quickly, especially for people who are looking to improve their credit history so that non-payments are not reflected.
4-Ask the financial institution for a fixed payment plan with an interest reduction, you must commit to pay your debt on time to reduce it quickly without accumulating interest.