A debt management plan (DMP) is the increasingly preferred option for resolving tough financial issues. As an alternative to bankruptcy, it is a personal finance program to suit the unique circumstances of the individual debtor, since diverse financial situations affect the ways money should be managed. Fortunately, the average consumer has access to a variety of resources which help them navigate the process.
Managing finances correctly ranks among the top adult concerns. In fact, decisions involving money affects practically every aspect of life including lifestyle choices, transportation preferences, and financing a place to live. Mismanaged, any one of these areas can lead to uncontrolled debt. The realization that help is needed to manage debt is followed by finding the most favorable way to do so.