What type of payment plans are available through debt relief law?

Under New Jersey’s debt relief law, there are several types of payment plans available for those dealing with debt. One of the most popular is consolidation, which combines all of a person’s debt into one monthly payment. This payment plan is great for those who have multiple debts from different sources. Another payment plan available is debt management, which involves a payment plan with a third-party debt management company who will negotiate with creditors to lower payments and waive late fees. Debt validation is also an option, which involves verifying that the debt is valid and owed. This is especially beneficial to those who are being harassed by debt collectors and need to prove that they do not actually owe the debt. Debt settlement is another payment plan available. This involves negotiating a reduced settlement amount with creditors which can help lower the debt amount owed. This plan is best for those with serious financial issues, such as foreclosure and bankruptcy. Finally, debt forgiveness is also an option, which involves completely removing the debt—either through a one-time payment or a permanent reduction of the debt. This plan is best for those who have a large amount of debt and cannot afford to make any payments in the future.

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What type of payment plans are available through debt relief law?

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