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

Related FAQs

Are there any legal requirements to debt settlement?
Is debt settlement reported to credit bureaus?
Can I negotiate multiple debts at once during the settlement process?
Can creditors refuse to negotiate a debt settlement?
How does debt settlement impact my credit score?
What is the best way to negotiate a debt settlement?
Do I have to pay taxes on debt settled through negotiations?
What is a debt settlement plan and how does it work?
Are there any drawbacks to settling a debt?
What penalties or interest can creditors charge when settling debt?

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