When this happens, however, the creditor often makes other concessions. A payment reduction, incidentally, may or may not be important to a client. Some clients, for example, are not interested in a payment reduction.
Some clients even prefer a higher payment, thus accelerating liquidation.
For most clients, however, a payment reduction is crucial. In any case, the amount and importance of a payment reduction is dependent of the client's circumstances and objectives. Inc. All rights reserved.