Debt Management

Debt management refers to the strategic approach to handling and repaying debts. It encompasses a variety of practices and techniques aimed at individuals or organizations in order to effectively manage their debt obligations. This process may include creating a budget, negotiating with creditors, consolidating debts, and exploring options such as debt relief or credit counseling services. The goal of debt management is to reduce financial stress, improve cash flow, and ultimately achieve financial stability by ensuring debts are paid off in a timely and manageable manner. Effective debt management can help prevent defaults, reduce interest payments, and improve credit scores.