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A debt cancellation contract (DCC) cancels all or part of a loan due to a change in circumstances for the borrower. Banks and other financial institutions offer debt cancellation contracts in place of credit insurance plans. DCCs place the onus of risk on the issuing agency, which often benefits borrowers.

Cancellation of debt (COD), sometimes referred to simply as debt cancellation, occurs when a creditor relieves a borrower from a debt obligation. Debtors may be able to negotiate with a creditor directly for debt forgiveness. They can also have debts canceled through a debt relief program or by filing for bankruptcy.

A debt settlement company negotiates with your creditors and offers them an amount of money to eliminate your debt. This amount is often lower than your total debt. If your creditors agree to the offer, you must pay your debt settlement company. The debt settlement company will then pay your creditors.

The process typically doesn't affect your credit score?unless it happens in bankruptcy?but it could end up costing you. Debt cancellation typically happens in ance with a debt forgiveness program. For example, the U.S. Department of Education offers income-driven repayment plans to federal student loan borrowers.

No, you really can't get rid of credit card debt without paying. Filing bankruptcy for credit card debt will indeed lets you escape credit card debt. But if you're asking, ?How can I get rid of credit card debt without paying anything to anybody?? the answer is still: You can't! Well, you could if you dropped dead.

Yes, National Debt Relief is a legitimate BBB-accredited company with an A+ score from the Better Business Bureau, accreditation from the International Association of Professional Debt Arbitrators and American Fair Credit Council, and nearly 36,000 reviews on Trustpilot averaging 4.7 stars.