debt settlement
noun [C or U]Definition
› FINANCE a financial agreement between a borrower and a lender in which the borrower pays back less than the full amount of a debt and the lender agrees to accept this as full payment: Debt settlement companies, which offer to arrange debt settlements for borrowers, often require a big payment upfront for their services.
(Definition of debt settlement noun from the Cambridge Business English Dictionary
© Cambridge University Press)
Browse the Thesaurus
Our dictionaries
Browse the Dictionary
Word of the Day
ride (out) the storm
to manage not to be destroyed, harmed or permanently affected by the difficult situation you...
Blog
Read our blog about how the English language behaves.
New Words
Find words and meanings that have just started to be used in English, and let us know what you think of them.
