"Debt restructure" means making changes to how a person or organization pays back the money they owe, usually by adjusting the terms of the loan or finding a new agreement with the creditor. Full definition
A voluntary method of debt restructuring in which a person makes a lump sum payment to a financial counseling agency who distributes the funds to creditors. (bankruptcy-alternatives-information.com)
A second debt restructuring in 2010 brought the percentage of bonds out of default to 93 %, but some creditors have still not been paid. (en.wikipedia.org)
Other alternatives include debt restructuring, bankruptcy (as a last resort), and formal proposal. (lifeoncredit.ca)