If you’re struggling with mounting unsecured debt, debt management is a way to keep up with your bills. You can use many strategies to manage your debt, including the debt snowball method or working with a credit counseling organization. When you do, you will create a debt management plan that fits your budget and financial situation.

Debt management is a way to get your debt under control through financial planning and budgeting. The goal of a debt management plan is to lower your current debt and move toward eliminating it.

You can create a debt management plan for yourself or go through credit counseling. Both ways have advantages and disadvantages. Setting up a plan yourself is the simplest way forward, but sometimes it can be helpful to have an outside partner providing negotiation assistance, accountability or both.