Debt Reduction aka Debt Settlement
Debt Reduction or Debt Settlement is a method of wiping away the debt by coming up with a mutually agreeable amount between the creditor and debtor. This is one of the methods in paying back the debt that the debtor owes to the creditor.
Other methods of solving your debt are payment plans, or bankruptcy.
If you have questions about debt settlement, please do not hesitate to contact an attorney.