When tackling something challenging, coming up with a plan is often a good first step. That is certainly the case when it comes to paying down debt, especially when your balance is already overwhelming and still ballooning thanks to interest.
Debt management plans, which are created and administered by credit counseling agencies, aim to give you a roadmap toward getting debt-free. They can also streamline the number of monthly payments you have to worry about and potentially lower the interest rate and fees you are paying, smoothing the path even further.
What’s a debt management plan?