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

Related FAQs

How do I stop debt collection calls during the settlement process?
Are there any drawbacks to settling a debt?
How can I ensure I don’t fall behind on payments during the settlement process?
How do I know if debt settlement is right for me?
What is the difference between debt settlement and debt management?
Are there any tax consequences to debt settlement?
Can creditors refuse to negotiate a debt settlement?
Do I need to hire a lawyer to negotiate a debt settlement?
Does debt settlement hurt my chances of obtaining new credit?
How do I report a debt settlement to the IRS?

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