Sentences with phrase «fraction of the amounts owed»

Known as debt settlement, it's a process by which consumers stop paying unsecured creditors, wait months or even years until creditors have given up hope of collecting, then offer to settle outstanding balances for mere fractions of the amounts owing.

According to the Attorney General's lawsuits, the businesses promised consumers they could pay off their debts for a fraction of the amount owed, but instead collected large up - front fees and left customers with little or no money to pay creditors.

Not exact matches

As an author, you are one of the last ones to get paid any outstanding royalties, and normally a fraction of the amount you are truly owed.

The usage of cap and participation rates means that they don't have to directly match the return of these indices, they simply need to generate enough money to pay the relevant amount of interest representing whatever fraction of the indices» return the policy owes at the end of the year.

The lump - sum is typically a fraction of the actual amount owed, but because the federal government has so many ways to collect money, debt settlements are few and far between.

Debt settlement is where a negotiator contacts your creditors and works to reduce each of your debts down to a fraction of what you owe — an amount that can be affordable for you to pay.

A debt settlement will allow you to pay a fraction of the amount that you owe without harming your credit score.

With debt settlement, you are telling your creditors «Sorry, I can't pay the entire amount I owe, but I can pay a fraction of it to you right now if you'll cancel the debt.»