Some debts can be deferred or partially canceled by the creditors, who meet in informal structures such as the Paris Club, London Club, the Heavily Indebted Poor Countries Initiative and the Committee for the Cancellation of Third World debt.
During the 2000s, the net external debt of some developing countries has been greatly reduced in particular due to rising commodity prices or successful development.
Countries such as China and Brazil, are now net creditors in developed countries. However, many highly indebted countries in terms of their resources have remained poor despite the Heavily Indebted Poor Countries initiative that benefits forty mainly African countries.
Predatory lending involves the criminal practice of granting loans with extremely high interest rates. Special report of the Federal Deposit Insurance Corporation determines predatory lending as unjust and cruel imposition of conditions on borrowers. Other government agencies use the term to describe a variety of illegal actions in the field of credit.
Predatory lending tends to be prevalent in the least educated segments of the population, but they are often the victims of representatives from all demographic categories. They usually take a little more risk than banks, but at the price of much higher interest rates. Cash Loans Online provide a better option in this regard.