DEBT MANAGEMENT
Debt is of different types, with Mortgage Debt, Overdrafts, Credit Card Debt, Secured and Unsecured debt being a few.
If you are looking at borrowing afresh, here are some questions you need to ask yourself:
- Is my debt status healthy, what are the types of debt I have got into?
- What is my monthly outflow towards debt interest?
- Can I avoid or reduce debt?
- With the current debt level, can I meet an emergency?
- At the current payment pace, how long will it take for me to completely pay off all my debts?