debt release
Freedom from owing
Debt release is the cancellation or forgiveness of money owed, whether through legal proceedings, creditor agreement, or government program.
The term appears in bankruptcy contexts and in marketing for debt settlement services: After the debt release, she could finally rebuild her credit.
Some usage carries a whiff of euphemism, making elimination of debt sound more dignified than default.
- bankruptcy lawStatutes governing debt discharge
- loan forgivenessCancellation of owed amounts
- payment plansScheduled purchase installments
- write-offsCancelled debts or expenses
- economic justiceFair allocation of resources
credit counseling · foreclosure prevention · jubilee · consumer protection laws · clean slate · refinancing · fresh start · second chance · financial freedom · credit score · moral hazard · indentured servitude
debt releaseborrowing
Temporary taking of another's
indebtedness · debt bondage · debt trap · leveraging · encumbrance
debt releasedebt spiral
Self-perpetuating financial decline
debt trap · debt burden · debt load · debt collection · financial obligation
debt, debts, debtor, debtors, indebted, indebtedness, release, releases, released