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

Related FAQs

How does debt settlement impact my credit score?
Do I have to pay taxes on debt settled through negotiations?
What is the average debt settlement amount?
Should I use a debt settlement company or negotiate directly with my creditors?
Can I negotiate a lower principal balance as part of a debt settlement?
What is a deemed satisfaction and how does that apply to debt settlement?
Are there any alternatives to debt settlement?
Can I negotiate a debt settlement without the help of an attorney?
Is there a minimum debt amount to qualify for debt settlement?
Are there any potential risks if I choose not to settle my debts?

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