Debt Settlement

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Filing for Bankruptcy and other Legal Forms topics.

What is a debt settlement?

Debt Settlement

Debt settlement can be an alternative to filing bankruptcy for certain invidividuals or businesses. In essence, consolidating or settlement of debts means that creditors agree to take a lesser amount than what is actually owed in order to aid the debtor in repayment of the debts. This type of action can oftentimes prevent someone from having to file bankruptcy.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Legal Forms Tip Site? Request a Tip Now!


Guru Spotlight
Jolyn Wells-Moran