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Is Debt Reduction similar to Bankruptcy?

April 26, 2017Bankruptcy debt reduction similar

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Is Debt Reduction similar to Bankruptcy?

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Absolutely not! Debt reduction is geared towards individuals who still have the means to repay their creditors. But, due to financial hardships, these individuals seek the assistance of a program to get their creditors to agree to a reduction of their debt. Bankruptcy is designed to absolve you of all your financial obligations and results in long-term negative effects on your credit.