FINANCEafinancialagreementbetween aborrowerand alenderin which theborrowerpaysback less than thefullamountof adebtand thelenderagreestoacceptthis asfullpayment:Debtsettlementcompanies, whichoffertoarrangedebtsettlementsfor borrowers, oftenrequireabigpaymentupfrontfortheirservices.(Definition ofdebt settlementfrom theCambridge Business English Dictionary? Cambridge University Press)
Examplesofdebt settlement
debt settlementBoth of these trade associations have membership made up of companies operating in thedebtsettlementindustry.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.Creditors have their own policies regardingdebtsettlementand certain creditors will not settle directly with consumers.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.In addition, a completeddebtsettlementprogram can cause a ding on a credit history.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.A consumer makes monthly payments to thedebtsettlementcompany, or to the bank (or bank agent) who holds the trust account.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.Thedebtsettlementcompanies may not handle calls from the credit card companies, nor the collection agencies.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.In the case ofdebtsettlement, enrollment in a program does not stop creditors from taking legal action.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.In thedebtsettlementprocess the debtor's accounts remain in default.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.And when asked to show that most of their customers are better off afterdebtsettlement, industry leaders said that would be an unrealistic measure.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.Debtsettlementis a form of individual debt adjustment.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.Since the creation of the current regulations there have been a number of legal disagreements between regulators and thedebtsettlementindustry.FromWikipediaThis example is from Wikipedia and may be reused under a CC BY-SA license.These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.#https://dictionary.cambridge.org//dictionary/english/debt-settlement##
