The Mirage of Forgiveness: What Borrowers Should Know About Debt Cancellation The idea that creditors might forgive debt without being asked is a tantalizing one for those struggling with mounting bills and credit card balances.
However, this notion is based on a few grains of truth mixed with misconception.
In reality, while creditors do have the power to cancel debts, it's far from a common occurrence – and borrowers shouldn't pin their hopes on it.