What is a lump-sum debt settlement and how does it work?

Related FAQs

Can a creditor challenge a debt settlement?
Are there any ways to avoid paying for a debt settlement service?
Can I negotiate a lower interest rate as part of a debt settlement?
What should I do if a creditor refuses to delete negative credit items as part of a debt settlement agreement?
Is debt settlement better than bankruptcy?
How can I ensure I don’t fall behind on payments during the settlement process?
What documents do I need to provide during a debt settlement process?
Are there any risks associated with using a debt settlement firm?
Are there any drawbacks to settling a debt?
What is a deemed satisfaction and how does that apply to debt settlement?

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