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Supplement your income: Whatever you need to do to start paying off your debt, do it now. Ask for a raise at work or move to a higher-paying job if you can. Get a side hustle. Start to sell ...
If paying the debt in full upfront isn’t possible, discuss setting up a repayment plan with the collector. A structured repayment plan lets you make regular payments until the debt is resolved.
If you want to learn more about managing your finances and debt repayment plan, check out Bankrate and National Debt Relief’s ongoing article series about all things debt. Watch this space for ...
Debt relief, on an individual level, refers mainly to the negotiation for a reduction of a debt by either the consumer or a debt settlement agency. Through this arrangement, consumers agree to pay the creditor a fixed amount of money (generally a discount on their outstanding debt) either in a lump sum or under a payment plan.
A debt collection bureau in Minnesota. Debt collection or cash collection is the process of pursuing payments of money or other agreed-upon value owed to a creditor. The debtors may be individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector. [1]
Sample dunning record, from a 1913 business manual. Dunning is the process of methodically communicating with customers to ensure the collection of accounts receivable. ...
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