What is a debt workout?
A. Generally this occurs when an attorney contacts your creditors and makes arrangements which would require you to make some payments to them, although less then what they may be owed to settle the account in full. Other times arrangements call for payment in full but over a longer period of time than originally planned. Sometimes you can even pay a smaller settlement figure and make payments over time.
Related Questions
- Is there a different between a debt workout solution and a debt consolidation program for reduction the purpose of lowering credit cardt and other unsecured debt?
- What is the different between a debt workout and a debt consolidation for reduction or elimination of credit card debt and other unsecured debt?
- What is a debt workout?
