Debt Settlement

Business, Legal & Accounting Glossary

Definition: Debt Settlement


Debt Settlement


Full Definition of Debt Settlement


The process of a creditor and debtor agreeing to settle an outstanding debt for a certain amount of money. For instance, Sue may owe $10,000, but her creditor may settle the debt for $7,000 if she pays the debt off in 7 days.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/debt-settlement/
Modern Language Association (MLA):
Debt Settlement. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
December 01, 2022 https://payrollheaven.com/define/debt-settlement/.
Chicago Manual of Style (CMS):
Debt Settlement. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/debt-settlement/ (accessed: December 01, 2022).
American Psychological Association (APA):
Debt Settlement. PayrollHeaven.com. Retrieved December 01, 2022
, from PayrollHeaven.com website: https://payrollheaven.com/define/debt-settlement/

Definition Sources


Definitions for Debt 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.