debt cancellation


The process of a creditor canceling a debt previously owed by a debtor. This can occur for number of reasons such as fraud, court order, or mutual agreement between both parties.

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The first step is to arrange a debt cancellation with the creditor now that the court order is in place.

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You may try and see if you can get a debt cancellation if there is no possible way that you can pay it off.

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A situation where a debtor is in debt to a creditor and the creditor is in a position of cancelling the debt that is owned is known as debt cancellation

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debt burden debt cancellation contract