Credit Questions & Answers
Website CertifiedPrivacy Protected
Questions & Answers > Debt Management Help > What if one does not commit to managing debt?

What if one does not commit to managing debt?

By Derek Brown
Published: Sunday, November 8th, 2009

There will be a big problem. A person who is in debt can be potentially in greater financial liability if he does not concentrate in managing his existing debt, in other words in paying back his dues in the market to his creditors. With each passing day, the interest payment on a particular debt increases. Moreover, the situation becomes tighter if one fails to comply by any specific installment proposition, thereby incurring additional penalties as a marked defaulter. In certain cases, complete failure of being not able to pay crucial debts can lead to criminal offence, jeopardizing both the financial and social status of the debtor. So it is really not a good idea of not managing one’s debt.

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.