Key takeaways
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If you are overwhelmed by debt and can’t handle it on your own, you could approach a professional debt management company for help
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A nonprofit debt management company can, for a fee, help you consolidate your debt and negotiate a lower monthly payment, or lower interest rates, among other approaches
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There could be consequences for your credit score if you go through a so-called debt relief company and settle your debt for less than the amount you owe
Most Americans carry around at least one credit card, and the average balance on a credit card is just under $5,910 as of 2022.
Although credit cards make purchases easy using borrowed credit, managing your debt and making timely payments isnt always as easy. If you…
Read the full article at: https://finance.yahoo.com/news/debt-management-110007253.html