Archive for October, 2005

What are my Debt Management Options?

Debt Management is exactly what it sounds like: it’s a process for managing your debts.
For most people debt management means making a budget, and then reducing expenses so that you have enough money to repay your debts.  If you don’t know how to make a budget, a debt management credit counseling gets you the advice you need from a credit counselor, while helping you manage your debts.
Your credit counselor will help you make a budget, and then work out a plan to repay your debts, which may involve a formal debt management plan.  If you don’t have the discipline or ability to repay your debts on your own, a debt management plan, administered by your credit counselor, may be your best option.