debt management

Definition

A unique strategy developed to help a debtor manage their debt. This strategy is usually developed and implemented by an outside company or organization on behalf of the debtor, usually because the debtor is unable to sufficiently manage their debt on their own, due to lack of knowledge or because they are overwhelmed by the amount of debt.

Use debt management in a sentence

You need to always be great with your debt management so that you don't ever take on more than you can handle.

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My mom stressed to me growing up that debt management was very important without it you could end up in debt over your head.

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Bill used debt management to lower the amount he owed on his credit cards. He even decided to get a second job in order to help the situation.

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amortization of premium global financial stability report (GFSR)