If you are overwhelmed by your debts, youre not alone. The average American has more than $90,000 in debt, including credit cards, student loans, and personal loans.If you’re struggling to pay off your balances, one option is to work with a nonprofit credit counseling agency and enroll in a debt management plan. With this approach, you can pay off your debts in five years or less and get other help managing your money.However, debt management plans are not for everyone, and there are some downsides to consider. Heres what you need to know.
- Debt management plans allow you to pay off your debt in five years or less.
- To start a debt management plan, you need to work with a nonprofit credit counseling agency.
- There may be…
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