The question is, what types of debt management is there?

I guess you can break down into a few different subtopics, although it differs from country to country. Canada and the UK have the following types:

• Debt Consolidation Loans – Similar to debt consolidation in that it allows you to put all of your debt in one place. These loans will combine a whole bunch of in one go. It sorta allows you to pay off debt with an IVA also.

• Debt Negotiation – This process consists of a debtor making an arrangement with their creditors without the help of a debt management company. This is what happens when you go directly to a creditor and ask for a portion of your debt to be written off or if you ask them to freeze or lower your interest rate so that you can finally pay off your debt.

• Debt Consolidation - This process involves a debt management organization assisting you to get your debt under control. It will be similar as above but the company will likely have a lot more experience in contacting creditors and will have a greater chance of success with attempting to get your debt amounts reduced or at least limited through a interest freeze of some kind.

That’s all for today