Debt settlement is a form a debt relief where you talk to your creditors in a bid to persuade them to essentially remit or forgive part of the debt provided you pay the balance. If the settlement is successful, you only pay a part of the amount owed, with the rest of it being cancelled.
As a business owner seeking debt settlement, it is important for you to understand that debt settlement is only one of a number of debt relief strategies that you can use if your business is struggling with debt. Before hiring a debt settlement company, make sure you educate yourself on the advantages as well as the effects of this strategy.
Below are some of the advantages.
With debt settlement, you can avoid filing for bankruptcy
Avoiding bankru…
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