Debt settlement companies, which offer to arrange debt settlements for borrowers, often require a big payment upfront for their services.
Financial and business terms. 2012.
Debt settlement — Debt settlement, also known as debt arbitration, debt negotiation or credit settlement, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full.[1] Debt settlement is… … Wikipedia
debt settlement — repaying of money borrowed, resolving a debt … English contemporary dictionary
debt settlement agreement — agreement made regarding payment of debts … English contemporary dictionary
Debt arbitration — is the industry created around the practice of debt settlement. Debt arbitrators are third party institutions that work on behalf of their clients to negotiate out of court settlements for old bills, invoices, lawsuits, liens, medical bills,… … Wikipedia
Debt adjustment — is a form of debt relief that allows a government, organization, corporation, or individual to repay a debt over a longer period of time and with smaller payment amounts than the lender and borrower originally agreed upon. It is an alternative to … Wikipedia
Debt negotiation — is the process of negotiating with a creditor to pay off a percentage of a balance owed on old bills, invoices, lawsuits, liens, medical bills, utility bills, and judgments. This process is commonly used in debt settlement and debt arbitration.… … Wikipedia
Debt consolidation — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Emp … Wikipedia
debt — noun 1 sum of money owed ADJECTIVE ▪ big, crippling, enormous, heavy, high, huge, large, massive, substantial ▪ … Collocations dictionary
settlement — set·tle·ment n 1: the act or process of settling 2 a: an agreement reducing or resolving differences; esp: an agreement between litigants that concludes the litigation the states finally agreed upon a settlement and a consent decree W. J. Brennan … Law dictionary
Settlement (finance) — Settlement (of securities) is the process whereby securities or interests in securities are delivered, usually against payment, to fulfill contractual obligations, such as those arising under securities trades. This involves the delivery of… … Wikipedia
