What happens to the debt that’s been settled?

Related FAQs

Is debt settlement a good way to reduce debt?
Can I negotiate a lower principal balance as part of a debt settlement?
Is it possible to settle a debt for less than the amount owed?
Are there any discounts available for debt settlement?
Are there any tax consequences to debt settlement?
How can I make a debt settlement offer more attractive to creditors?
When can I start making payments on my debt settlement?
What is a deemed satisfaction and how does that apply to debt settlement?
Are there any risks associated with using a debt settlement firm?
How do I report a debt settlement to the IRS?

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