The phrase
"debt settlement process" refers to a method of negotiating with creditors to pay off a debt for less than the full amount owed. It involves working with a debt settlement company or negotiating directly with creditors in order to reach an agreement on a reduced payment. Ultimately, the goal is to settle the debt and avoid bankruptcy.
Full definition
Synonyms for individual words can be found below.
«debt»
«settlement»
«process»
Sentences with «debt settlement process»
- The entire debt settlement process usually takes between one and three years. (debthelp.com)
- Don't worry, it's all part of the usual debt settlement process. (debtsettlement.com)
- You can't even begin to rebuild your credit score until the entire debt settlement process is complete, and that could be years. (creditsesame.com)
- (see all
sentences)