Debt relief refers to the process of reducing or eliminating the amount of money that a person or organization owes. This can occur through various methods, such as negotiating with creditors, consolidating loans, or filing for bankruptcy. The goal is to make debt more manageable and help individuals or businesses regain financial stability. There are different types of debt relief options available, including debt settlement, credit counseling, and debt management plans. Each option has its own advantages and disadvantages, and the best choice depends on an individual's financial situation. Seeking professional advice can help determine the most suitable approach.