A syndicated loan is a loan that is granted to companies that wish to borrow added money than any distinct lender is prepared to risk in a single loan, ordinarily many millions of dollars. In such a case, a syndicate of banks can each agree to Debt Consolidation Loan put forward a portion of the principal sum.
Short of bankruptcy, it is inconceivable that debts are wholly or partially forgiven. Traditions in some cultures demand that this be done on a regular (often annual) basis, in order to defend against systemic inequities between groups in society, or anyone presentable a specialist in holding arrears and coercing repayment. Under English law, when the creditor is deceived into forgoing payment, this is a crime: see Theft Act 1978.