Credit Card Settlement: Pros, Cons, and How It Works | |
A settlement with credit card is an agreement between a cardholder and the credit card issuer to pay off a debt for less than the total amount owed. This option is usually considered when a borrower is struggling with high outstanding balances and is unable to make full payments. Credit card companies may offer a lump-sum settlement or a structured payment plan to recover a portion of the debt. | |
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