debt forgiveness
Erasing what's owed
Debt forgiveness is the cancellation of all or part of what someone owes.
A lender may forgive debt to help a struggling borrower, as a charitable act, or when collection seems impossible.
Governments sometimes forgive student loans or debts owed by developing nations.
The forgiven amount may count as taxable income for the borrower: She owed taxes on the debt forgiveness from her settled credit card.
- JubileeNamed royal anniversary event
- repayment plansScheduled debt reduction agreements
- TorahJudaism's core scripture
- forgive and forgetAbsolve and dismiss resentment
- fresh startOpportunity to restart unburdened
moral hazard · poverty alleviation · amnesty · clean slate · loan restructuring · social justice · wealth inequality · international aid · financial aid · community support · legal settlements · loan · clemency · freedom · pardon · absolution · bailout · release
- debtcreditor, owe, debtor, lender, unpaid
- incomesalary, earnings, income, wages, pay
- Bailoutsbailout, bank bailout, bank bailouts, rescue package, rescue fund
- debt helpcredit counseling, repayment plans, hardship programs, bankruptcy
- debt reliefbankruptcy protection, fresh start, mortgage relief, hardship programs, write-off
- financial reliefbailout, stimulus, tax relief, forbearance, relief fund
debt forgivenessdebt collection
Pursuing owed payments
foreclosure · repossession · debt recovery · wage garnishment · asset seizure
debt forgivenessausterity
Enforced economic stringency
debt slavery · debtors' prison · financial accountability · fiscal responsibility