Managing one’s debt is very hard to do on your own. The mere fact that you are in debt clearly shows that you do not have control over your finances and your spending habits. That is why there are several debt management programs offered by different lenders to answer the needs of the debtors. These programs have the goal of gradually eliminating the borrower’s many debts.
And while these programs vary in the type of agreement, its terms, and added services, it is mainly created for the improvement of the borrower’s financial status. There are two main types of debt management programs and these are categorically called secured and unsecured.