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How Does a Debt Relief Program Work?

by Bailey Glennie (2020-06-06)

The customer pays a loan in a debt recovery scheme, which is often smaller than the due amount, and in several installments. It is sometimes referred to as debt settlement, debt negotiations or debt resolution.

The customer usually stops paying their creditors and saves money until they have a certain amount. oThen they contact their creditors to negotiate paying it back in a number of installments that are smaller than their average sum of their debt.

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