assign a new time and place for an event; "We had to reschedule the doctor's appointment"
to establish new terms and conditions (i.e., modify the existing terms) to facilitate repayment of a debt. Also referred to as restructuring, refinancing, and reamortizing.
When you reschedule, you revise the timetable for loan repayments, and are usually granted longer repayment periods and often, new loans to pay the old ones.
Procedure of establishing new terms and conditions to facilitate repayment of a debt. Also called restructuring, refinancing, and reamortizing, rescheduling includes establishing new terms as a result of changes in authorizing legislation (e.g., congressional action allowing farmers to have an additional 5 years to pay off their loans).