A Debt relief program can help you reduce or refinance high interest debts in order to make it easier for you to repay it. Some options for debt relief may entail forgiving a portion or the total of the debt’s principal, lowering the interest rate, or consolidating several debts into a single lower-interest loan.
Generally, a creditor may only be willing to consider Debt Relief as an option when the repercussions of defaulting on the debt by the consumer are perceived as being so severe that debt mitigation is a better alternative.