Glossary of Important Terms on Debt Management

Asset: property owned by an individual.

Secured Asset: assets like home or car, which require long-term financial planning.

Unsecured Asset: temporary assets like credit cards.

Credit Report: record of payments made.

Grace Period: time period offered to a borrower for repayment of debt without any fine.

Bankruptcy: legal term used for cases dealing with inability to repay debts.

Garnishing of wages: court order that allows the lender to collect debt directly from a borrower’s salary.

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Important Articles on this site:

Overview on important ways for consolidating debt can be the ideal solution to help you to manage your finances and avoid bankruptcy.

Taking out a personal loan to consolidate debt and when it is advisable and when not.

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If you want to reach an agreement with creditors you should know how to deal with and negotiate any debt settlement plan.

In general managing credit card debt isn't always easy. However, there are a number of steps that you can take

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