Debt reduction Debt reduction is the process of decrementing the total amount of a delinquent payment, also known as bad debt. It represents a successful approach towards helping a subject of debt to clear their defaults easier and in a more convenient way. As today a lot of consumers experience difficulties in repaying the monetary obligations they owe to creditors, such plans for reducing debts become a very effective way of clearing not only individual but also business liabilities.
What is debt resolution? Debt resolution denotes the process of resolving over-indebted borrowers’ severe financial issues and combines all types of debt help and debt advice schemes. Such methods focus on a high-quality and professional advice provided to business and individual debtors. If the mechanism is executed by a specialised resolution debt agency, it will also provide other debt clearance and settlement services in order to help the consumer get out of the bad debt situation.