Is it possible to settle a debt for less than the amount owed?

Related FAQs

What is an unsecured debt and how does it impact debt settlement?
Can I negotiate debt settlement with multiple creditors at once?
What are my rights and options when it comes to settling debt?
Should I be wary of any companies offering “instant” debt settlement?
Can a debt settlement company guarantee a successful settlement?
What is the difference between debt negotiation and debt settlement?
What is a lump-sum debt settlement and how does it work?
What happens to the debt that’s been settled?
Is debt settlement a better solution than bankruptcy?
What should I do if a creditor refuses to negotiate a debt settlement?

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