A debt relief plan is a program designed to help individuals or businesses manage their debts more effectively. It typically involves negotiating with creditors to reduce interest rates, lower monthly payments, or even eliminate some of the debt entirely. The goal of such a plan is to make it easier for the borrower to repay their debts without facing financial hardship or bankruptcy. Debt relief plans can take many forms, including debt consolidation, debt settlement, and credit counseling. Ultimately, the aim is to provide relief from overwhelming debt so that borrowers can get back on track financially.