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Debt management plan (DMP) is a special program introduced by most credit

counseling agencies to help the serious debtors work their way out of debt. But

not all debts can be included in a debt management plan. Although you have

chosen to enroll into a debt management plan, you must do your own debt

management for other debts that are not included in the DMP. Here are 6 debt

management tips for you to work toward debt relief:
Tip #1: Keep record

of your other bills.
A debt management plan typical will include only

unsecured debts such as credit card and personal loans. If you have taken

secured loan such as mortgage or car loan, be aware that those loans normally

will not be handled by a debt management plan. Make you understand which debts

are being paid by your monthly payment to the DMP. For those debts which are not

covered in DMP, make sure you keep a record on the bills.
Tip #2: Make sure

your payment reach your creditors on time
Although you make a single payment

to DMP, it is your responsible to ensure the money is reached to your creditors

on time, else if your payments late, you may incur additional late charges. Find

out when your DMP will disburse payment to creditors and make sure the

disbursement is matched with your billing cycle; if not, you must do an

adjustment either with the DMP agency or notified your creditors and get their

approval to reset the billing cycle to inline with DMP.

Here's 5 things to do to manage during a
recession:
1. Refinance your mortgage. Almost every time we are heading into
a recession, or already there, the federal reserve will lower interest rates to
stimulate the economy. If you're in a high-rate mortgage, refinance now. Not
only will it lower your payment, you'll save thousands of dollars in interest
over the long term.
2. If your finances are tight, resist the urge to
splurge. If you don't need it now, wait until the recession is over. You'll
thank yourself later.
3. Keep your job, or get a job! Employers feel the
squeeze during these times, too, so make sure you are not a dispensable
employee. Shape up if you have to, and make sure now more than ever you are
doing what's best for the company.