Daniel Rodriguez
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What is debt settlement?
Debt settlement, sometimes referred to as a debt relief plan, involves working with a creditor to settle your debt. In most cases, debt settlement sees the debtor pay less than they owe, typically a lump-sum payment.
Pros of debt settlement
The greatest benefit of debt settlement is that it usually allows you to pay your creditors less than you owe them. Additionally, this process allows you to pay off your debt quicker, which helps you get back on your feet sooner.
It’s also worth noting that reaching a debt settlement agreement ends the debt collection calls. Finally, avoiding bankruptcy makes debt settlement incredibly alluring to many people.
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