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What is the basic meaning of managing debt?

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

To put into small words, managing debt means to judiciously manage the earnings so that they can, to a certain minimum extent, help in improving the situations of borrowed credit. A person or an organization needs credit for individual needs or to run business. The borrower is liable to pay back the amount borrowed, often with a stipulated interest, to the creditor. Proper debt management involves this paying back process done in a smooth way. Managing debt is done both at micro and macro levels, from a person to the government of a nation.

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