In a debt settlement program, a company negotiates with creditors to allow the debtor to pay a lump sum settlement that is less than the total amount owed.

Authors

• Person: Not available Organization: Federal Trade Commission
  How To Get Out of Debt | Consumer Advice

Sources

• How To Get Out of Debt | Consumer Advice consumer.ftc.gov Federal Trade Commission via serper

Referenced by nodes (1)

• debt settlement program concept