Has your credit card debt spiraled out of control? Are you juggling payments to a long string of creditors, feeling like youre never making a dent in the amount of debt you owe? Even worse, is this debt growing each month because of high interest rates?
Faced with this stress, you might be considering a debt-management strategy known as debt restructuring. Its a form of debt management thats not as well-known as debt consolidation, but one that might be an option for consumers whose debt has gotten so bad that theyre considering filing for bankruptcy.
But while debt restructuring might help you gain control over your debt, it could also leave you with a new loan that comes with a sky-high interest rate. You might end up paying far mo…
Read the full article at: https://www.quickenloans.com/blog/can-debt-restructuring-help-ease-financial-stress-maybe-beware-pitfalls