Your Guide to Personal Financial Freedom: Finance Glide
Category Loans and Debt Management
Debt management is a common term for a number of different approaches to dealing with your debts. Debtors pay in advance, and interest rates are often lower than what they would have been if you’d gone through with filing bankruptcy. This allows people to get back on their feet more quickly, but it’s not an ideal solution if you’ve got a lot of debt or want to start paying off all your bills at once.
There are ways out of debt and you can help yourself get there. You will be surprised how easy it is to get yourself out of debt, if you use the right tools and tactics.
You see, there are different types of debt:
Debt from credit cards (which can be paid off by paying off the balance every month)
Loans that were taken out for things like cars or homes (the amount owed on these loans will be deducted from your paycheck)