Debt management is a program that helps you make your repayment process easier and more beneficial. You deal with a special company which becomes a mediator in your relationship with creditors.
The main idea of debt management plan is giving you a possibility to make just one monthly payment. The money you pay is transferred to your debt management company, which makes further distribution between all creditors you owe. It is always important to deal with a trustworthy company that provides such management.
Along with easy repayment process, you can get lower monthly payments. The service provider you choose negotiates for lower interest rates. So, with good financial management you get also better repayment terms and conditions.