For example, if you take out a car loan from your credit union, you’re the debtor and the credit union is the creditor in this transaction. Sometimes, a debtor refers to someone who files for ...

The term "341 meeting" refers to a meeting between creditors and debtors that is required to take place during the course of a Chapter 7 bankruptcy proceeding.

Negotiate a settlement directly with the creditor or debt collector. Creditors and debt collectors are often open to settling for less than the full balance, even after a lawsuit is filed ...

Negotiating your debt with creditors can be cheaper and faster than using a debt settlement company. Your first offer should be lower than the maximum amount you can pay toward your debt.