Need help getting out of debt? Start here.

Debt can quickly begin to feel like a challenging burden, especially when those balances keep creeping upward. It’s smart to look for help getting out of debt before it spirals out of control. Even if you’re not facing much debt now, or just starting on your credit path, it’s important to understand the impact that debt can have so you can make better financial decisions now and in the future.

With Cobalt Credit Union’s free Debt Management Guide, you’ll get the knowledge you need to make those savvy money management choices.

Assessing your debt

Managing your debt is easier when you have a realistic picture of where you stand. The Debt Management Guide will help you assess your debt in order to take control of it.

Learn these important concepts:

  • Good debt versus bad debt: Find out why not all debt is equal in the way it impacts your credit score and financial health.
  • The importance of credit reports: Learn how to assess debt by checking your credit report, ensuring all information is reported accurately and correcting any errors.
  • Tips for assessing your debt: Our worksheet can help you document your loans.

Managing your debt

Once you understand the true status of your debt, it’s time to get to work lowering those balances so you can more effectively manage your money.

Get help with this valuable information:

  • Reduce your debt: Discover strategies for developing a debt reduction plan that works with your budget, with tips and tricks for paying down debt.
  • Learn the facts: Read about debt myths and facts that might change your view of credit scores, higher income levels, and maxed-out credit cards.
  • Avoid bad debt decisions: Learn about debt tactics that should be used cautiously, especially since they can end up doing long-term damage to your credit rating.
  • Reduce your debt: Get tips for negotiating debts if you’re getting calls from creditors.
  • Refinancing cautions: Find out why you should be cautious when pursuing home refinancing.

Prepare for the future

Good debt management habits can mean a bright financial future.

Set yourself up for success with tips related to:

  • Staying out of debt: Learn how to stay out of debt in the future with four simple strategies that will make you a more effective money manager.
  • Early savings: Learn why establishing good savings habits early can reduce risk for your child’s future, especially when it comes to graduating from college.

Effective debt management can help you make the most of your money instead of seeing it chipped away by fees and interest charges. Get help getting out of debt before your debt gets out of control. You will soon learn that when handled properly, credit can be a valuable resource instead of a stress-inducing burden.

What are your best debt management tips? Share them in the comments.

Take control of your debt and boost your money management skills so you can reach your goals faster and easier. Download our free Debt Management Guide today.