Most people think you have to be a big spender before racking up large debts. This is not always true, as some borrowers will attest. A small debt, if left unattended, can fester like a wound and grow slowly into a financial monster.
And lots of small purchases on credit can add up to become quite a headache before you know it.
Financial experts say the root causes of why people accumulate debt vary. But one thing they have in common is the inability to control their spending before it spirals into a big debt.
There are three initiatives available to help debtors get out of their financial rut.
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Read the full article at: http://www.straitstimes.com/business/weighed-down-by-debt-theres-relief
