Creditors’ Settlement

Business, Legal & Accounting Glossary

Definition: Creditors’ Settlement


Creditors’ Settlement


Full Definition of Creditors’ Settlement


An agreement between a creditor and a debtor, often negotiated through an attorney, that establishes the conditions to settle a debt. Most settlement agreements require that the debtor make a minimum lump sum payment of a reduced debt amount or satisfy the debt within a specific period of time.


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Creditors’ Settlement. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 16, 2024 https://payrollheaven.com/define/creditors-settlement/.
Chicago Manual of Style (CMS):
Creditors’ Settlement. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/creditors-settlement/ (accessed: April 16, 2024).
American Psychological Association (APA):
Creditors’ Settlement. PayrollHeaven.com. Retrieved April 16, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/creditors-settlement/

Definition Sources


Definitions for Creditors’ Settlement are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.