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Debt
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amount owed by one person or organisation to another.
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Debt Consolidation
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A process in which multiple debts are restructured into a single loan for an affordable amount, ofter over a longer repayment period. A consolidation loan can be used to help pay off your existing deb
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Debt Management Plan
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If you are having short-term debt problems, and the debts are relatively low in amount, then a debt management plan can help. The aim is to come to an informal arrangement with your creditors to renegotiate your repayments, though this is not guaranteed. If you are having short-term debt problems, and the debts are relatively low in amount, then a debt management plan can help. The aim is to come to an informal arrangement with your creditors to renegotiate your repayments, though this is not guaranteed.
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Debtor
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A debtor is someone who owes debt to another individual or company and is required to repay their creditors.
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Discharge from bankruptcy
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It is a process that takes away the restrictions of bankruptcy and releases you from most of the debt owed at the date the bankruptcy order was made.
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