Debt reduction is the process of decreasing the total amount of a delinquent payment, also known as bad debt. It represents a strategic approach to helping a debtor to clear their defaults easier and in a more convenient manner. The strategies for reducing debt include reorganization of debts (changing liabilities’ contract terms and conditions) and refinancing (acquiring funds for a new loan to clear all existing old debts), freezing of additional charges and interest fees, or substituting debtor’s monthly payments with only one single transaction or reducing monthly interests.
5 Financial Services Loyalty Programs That Go Beyond Free Flights
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