how to manage debt

Understanding how to manage debt begins with the fundamentals. Internal debt collection departments and collection agencies only take action when consumers are in default, behind on payments, or their credit history has been subjected to reporting errors.

Whatever the cause, considerable resources now exist to assist consumers in their efforts to protect their credit histories and recover from related crises.

How to Manage Debt — Suggestions

  1. Determine the total debt
  2. Identify and prioritize all creditors
  3. Establish a monthly spending budget
  4. Generate a monthly payment schedule
  5. Pay bills on time
  6. Make at least the minimum monthly payment for every debt
  7. Pay off collections and charge-offs
  8. Recognize the signs that external help is needed

How to Manage Debt — Additional Resources


This communication is from a debt collector. This is an attempt to collect a debt and any information obtained will be used for that purpose.