Debt resolution
A planned process for bringing debts under control through negotiation, restructuring, settlement or a suitable formal solution.
Related terms
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Debt negotiation
The process of negotiating directly with creditors to seek a more manageable repayment arrangement, settlement or other commercial resolution.
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Negotiated settlement
A debt resolution agreed through negotiation, usually changing the amount, timing or method of payment from the creditor’s original demand.
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Debt reduction
A decrease in the amount a debtor ultimately has to repay, usually through negotiation, settlement, write-off or a formal debt process.
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