Debt Management

Debt Management
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Debt Management


Debt management means different things to different people.

debt management 

At it's most basic level, debt management is the process of managing your debts.

Of course the objective of debt management, ultimately, is to not only manage your debts, but to eliminate them entirely.

Most people manage their debts themselves, by following the following steps:


First, make a list of all of your debts, including the names and amounts owing.

Second, make a list of what you earn and what you spend each month (commonly called a budget).

Then, with the knowledge of what you earn and what you can spend each month, make plan to manage your debts. Your plan might be to take an extra $100 each week from your budget and pay down your highest interest rate debt, until all of your debts are paid.

This do-it-yourself debt management plan puts you in control. If you don't think you can do it on your own, you could go to a debt management service for assistance. They will provide debt management counseling by helping you make a list of your debts, and help you make a personal budget.

Debt Management Credit Counseling is a great solution for many people, because it gives you a credit counselor to talk to, and you can use their expertise to get you to your debt reduction goal faster.

They can also help you set up a Debt Management Program, also known as a Debt Management Plan, where the credit counselor negotiates with your creditors on your behalf. If you feel uncomfortable trying to work out payment arrangements with your creditors on your own, this is a great solution.

There are many options for managing your debts, so research your options (see the navigation menu on the left hand side of the page), and then get started!

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