Debt Settlement

What is a debt settlement?

Debt Settlement Definition: Debt settlement is a method of negotiating a way to pay off bills and debt through a less expensive means. A credit counseling organization often proposes this type of settlement on behalf of a borrower who is struggling to pay off mounting debt and loans.

Overall, debt settlement offers to help a debtor reduce or eliminate the debt at a reduced rate while providing services at a reasonable fee. The debt settlement industry is regulated to ensure counselors and companies adhere to a strict code of conduct.

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