What is Debt Relief? How does debt relief work? Debt relief is when someone reorganizes their debt to alleviate the building pressure, either by paying it off completely at a discount or making it more manageable. People who benefit the most from debt cancellation programs are those who have a large amount of debt and little hope of paying it off.
When you sign up for a debt settlement program, your debt relief company will negotiate with your creditors on your behalf.
It’s important to note that most debt cancellation programs only deal with unsecured loans and debts which include credit card debt, department store cards, and personal loans.