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Evaluate Creditor Hardship Options
Grade Level
DSST
DSSTPF.064 Evaluate Creditor Hardship Options
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A borrower in collections negotiates a settlement but also wants the collector to stop collection on the remaining forgiven portion. What term should be explicit?
A
That the agreed payment resolves the account and the collector will not pursue the remaining balance after payment clears.
B
That the collector can sell the unpaid portion immediately after payment.
C
That the borrower waives the right to any receipt.
D
That the collector may change the settlement amount after payment.
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