Debt management refers to the process of managing and paying off debt in a responsible and effective manner.

Debt management can involve creating a budget and financial plan to allocate resources towards paying off debt, negotiating with creditors to reduce interest rates or payment amounts, consolidating debt into a single payment or loan, and seeking professional counseling or advice to develop a debt management strategy.

The goal of debt management is to reduce debt, improve financial stability, and avoid or minimize the negative impacts of debt, such as late fees, interest charges, and collection efforts.

Debt management can be an important part of financial planning and can help individuals and businesses achieve long-term financial success. It is important to work with qualified professionals and to carefully consider all options and strategies for debt management to ensure the best outcomes.