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2. Debt settlement - Wikipedia

   en.wikipedia.org/wiki/Debt_settlement

   Debt settlement is the process of negotiating with creditors to reduce overall debts in exchange for a lump sum payment. A successful settlement occurs when the creditor agrees to forgive a percentage of the total account balance. Normally, only unsecured debts, not secured by real assets like homes or autos, can be settled.

3. Dave Ramsey’s Best Debt Advice To Help You Start 2025 Right

   www.aol.com/dave-ramsey-best-debt-advice...

   This might give you an overall lower monthly payment, but it could keep you in debt longer. Professional debt settlement: This requires working with a debt settlement company to negotiate with ...

4. Debt consolidation without a loan: Here’s how to do it

   www.aol.com/finance/alternatives-debt...

   The debt settlement company may tell you to stop making payments so your debts are sent to collections. Best for : Those with $10,000 or more worth of debt, struggling with monthly payments.

5. Best debt relief options for credit card debt - AOL

   www.aol.com/finance/best-debt-relief-options...

   Debt settlement entails negotiating with creditors to reduce the total debt amount owed by offering a lump sum payment. This usually entails funding an escrow account and offering to pay off a ...

6. Charge-off - Wikipedia

   en.wikipedia.org/wiki/Charge-off

   A charge-off or chargeoff is a declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors make this declaration at the point of six months without payment. A charge-off is a form of write-off.

7. Principal balance - Wikipedia

   en.wikipedia.org/wiki/Principal_balance

   The principal balance, in regard to a mortgage, loan, or other debt financial contractual agreements, is the amount due and owed to satisfy the payoff of an underlying obligation. It is distinct from, and does not include, interest or other charges.