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.

More on debt settlement. More on financial management: Accounts Receivable Factoring, Credit Management, Credit Rating, Investor Relations, Job Order Costing, more...