An arrangement made to repay delinquent installments or advances is referred to as what?

A repayment plan refers specifically to a structured arrangement that addresses how and when delinquent installments or advances will be repaid. This type of plan is typically designed to help borrowers manage their debts by outlining specific payment terms, including installment amounts and deadlines to bring the account current. It effectively enables clients to regain control over their financial obligations while avoiding further consequences like default.

In contrast, other options describe different financial concepts. A restructuring plan generally pertains to a broader strategy for altering the terms of a loan or debt, which can include forgiveness or modification of interest rates, not just repayment of delinquent amounts. A deferment plan involves delaying payments for a set period without penalty, rather than specifying a repayment schedule. An amortization schedule provides a detailed breakdown of future payments over the life of a loan, showing how much goes toward principal and interest, but it does not specifically address delinquent payments.