Is your debt killing you?

Posted December 26th, 2015 by Sergio Lynch

There are many ways to get out of debt, but starting with an understanding of some of the debt management plan basics is a great way to get on the right track.

Debt management has become something a hot topic everywhere especially within today’s age of falling economic indicators and ever escalating credit bills for the average Australian consumer. However, there are lots of different methods surrounding debt management.

Perth Business News

Is your debt killing you?

Everything from bankruptcy to home mortgage refinancing to payday loans could reasonably be considered a form of debt management. The principal forms of this sort of debt management are Consumer Credit Counselling and Debt Settlement.

Using either of these strategies, you could consolidate existing loans while attempting to decrease the overall money that is owed – though, in reality, Debt Settlement (not accepting funds from credit card companies, unlike the lender subsidised Credit Card Counselling industry) has a far better success rate for actually diminishing the financial obligations.

When considering a debt management plan you need to understand that you have options and depending on the type of financial organization that you use for your plan will determine the cost.

To learn more about how you can make smart financial decisions and get out of debt, check out this post from James Adonis: http://www.watoday.com.au/small-business/managing/work-in-progress/is-your-debt-killing-you-20151217-glpyh3.html