Debt and bad credit often work in tandem. This is because if you are not responsible financially, you end up accumulating bad credit. And in order to get rid of the debt, you take on more debt to pay off the previous one. You end up in a vicious cycle and as a result, this financial irresponsibility gets reflected in …

A severe debt situation can make your life extremely complicated and stressful. Apart from the financial difficulties, the other most disturbing aspect involved with a debt situation is the constant phone calls, messages and harassments from creditors. There are various possible factors that might give rise to debt problems, such as: An organization can get into a debt crisis due …