The money given to settle a debt is called a payment.
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No
It is the process of helping companies that owe or are owed money to find an accepted agreement for paying back the debt. It's a way to settle things outside of court.
Settle the debt or make a payment arrangement to settle the debt.
The first step a person should take to find out how to get out of debt is to find out what debt they have. After they find out what debt they have, they should contact the companies that they owe money to and see if they are willing to settle.
Yes you can always try and see if a creditor will negotiate the debt. When they want the money vad enough they always settle.
while you are disgussing the settle amount ask that it be remove from the debt collection notice..and that your agreement be in writing.if you do not get it in writing at the time ofthe payment of the settle amount.most likely you wont get it in writing afterwards.so be clear to him or her that this is your request to settle the debt pay off.
You could help him get out of debt by a few things, have him loan money, use a debt program that will supposedly take care of debt, or have him find out his credit score.
Credit card companies typically settle for around 50-60 of the total debt amount in debt negotiations.
form_title=Settle Your Debt form_header=Work with your creditors to consolidate and set up a debt repayment plan. What is the total amount of debt you owe?=_ Do you own your home? = () Yes () No Have you ever filed bankruptcy?= () Yes () No
Send them a cashiers check for the balance in full. Otherwise, hope they do not repossess it. Can happen any time.