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The History and Origins of Debt Relief

As the name implies, debt relief basically means relieving people from debt of any sort. This would entail allowing them to not pay it altogether. Some forms of relief, on the other hand would allow you to remove the interest, especially when it has been incurred several years ago. Reviews on freedom debt relief have always proven to be positive, as it is usually something that’s mutually agreed on by the parties concerned. If you want to know how this all began, below is a history of Debt Relief.

History

For those who read and believe in the Bible, it mentions debt relief even before the time of Jesus Christ, specifically in the book of Leviticus, where Moses was commanded by God to forgive debts in certain cases. This was also present in Ancient Athens, specifically during the 6th Century BCE where Solon created a set of laws which would allow previous debts which resulted to serfdom and slavery to be cancelled.

Modern Times

The good thing when it comes to debt relief, however, is that it’s something which still stays until today. Having said that, there are institutionalized companies that offer consolidation services. This is also a popular phenomenon among friends and immediate family members who may incur debts with each other. There are also cases where debt relief can be implemented for cases of bankruptcy, where credit card companies should pay attention to, given that several legal counsels would help these bankrupt companies to pay their debts slowly.

Debtor’s Prison

One interesting thing to note associated with paying debts is debtor’s prison. Back in the day, as the name implies, this is a place where people who would incur great debts who choose not to pay would basically be going to. Apparently, this has been abolished in more recent periods.