Debt Settlement

Definition: Debt Settlement is an approach wherein the creditor and debtor agree on a reduced balance that will be regarded as payment in full.
It is a way to avoid bankruptcy for people struggling to cope with mounting debt.
DS is also known as credit settlement, debt negotiation, or debt arbitration.

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More on financial management: Absorption Costing, Accounts Receivable Factoring, Credit Management, Credit Rating, Customer Profitability Analysis, more on financial management...

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