In today's competitive world living a normal life is practically impossible. Expectations from the family members force an individual to borrow money from various lenders. If a loan is not possible then a credit card comes handy. But at the time of repayment this poses a serious problem as one may discover that his expenses have outrun his income and he is under a huge pile of debts. Easy debt management not only helps to clear multiple debts of a borrower but can also revive his credit rating. It also saves a borrower from embarrassing situations like CCJ, defaults, IVA and arrears.

Debt consolidation is considered as the best option of all the options of debt management available in the market. This option helps to clear all the debts by taking another loan of the total amount of all the loans from a lender at a low interest rate and a repayment term which suits the borrower. Debt consolidation is of two types -- secured and unsecured. Secured debt consolidation is for those borrowers who can pledge collateral against the loan amount. Hence the interest rates are low. Secured loan amount starts from $25,000 to $75,000. The repayment tenure is 10 - 25 years. An unsecured debt consolidation is available without collateral which makes the interest rates higher in comparison to the secured one. An unsecured loan offers $25,000 and the tenure is maximum 10 years.

Although easy debt management helps an individual to manage the debts before eliminating them in a proper manner, one should take some anticipatory measures to eradicate debts. First of all, one should stop using the credit cards which are a source of high interest debts. Instead of it start using cash or debt cards. By cutting down the unnecessary expenses and abstaining from availing further loans will not only help an individual to handle the debt related problems easily but also save a lot of his money.