There are some people who believe that paying off all of their old debts is the ultimate financial achievement. Imagine getting rid of all your responsibilities to pay your creditors every month. That has to feel pretty darn good, right? But what does it mean to pay off all your debts in full? Some people approach debt from the moral side of things. These folks believe that for a debt to truly be paid in full, it must be paid back to the organization that your originally borrowed from. This, however, is not always possible. If a debt goes to collections or if a lending institution sells your account, there is really no way to meet this lofty moral obligation. The other side of paying off your debts is paying them off completely; meaning that you don’t owe a penny to any creditor or a particular creditor as the case may be. Again, this is not always possible, either. Some people wind up negotiating with…
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