Editing Debt restructuring (section)

=== Other debt repayment agreements ===
Most [[defendant]]s who cannot pay the enforcement officer in full at once enter into negotiations with the officer to pay by installments. This process is informal but cheaper and quicker than an application to the court. 
 
Payment by this method relies on the cooperation of the creditor and the enforcement officer. It is therefore important not to offer more than you can afford or to fall behind with the payments you agree. If you do fall behind with the payments and the enforcement officer has seized goods, they may remove them to the sale room for auction.

Subchapter V in the US was created in 2019 by the Small Business Reorganization Act (SBRA). It offers accelerated deadlines and the speed with which the plan is confirmed reduces cost. Congress temporarily increased the ceiling of maximum funded debt eligibility to $7.5mm during COVID-19, and extended it in 2022.