Debt doesn’t necessarily have to be a bad thing. In fact, some debt can be good. For example, it can be good to go into debt to get a house—i.e. a mortgage—if you can afford it. However, debt can be a very, very bad thing if you can’t afford it and it is a struggle each month just to make your monthly payments. In that case, you have too much debt. Too much debt can affect you in a lot of ways. It most definitely affects your credit score, which a bad credit score can lead to a lot of problems. For example, if you have a bad credit score, then you can have a harder time getting into an apartment or even getting a new job. If too much debt is plaguing your life, then perhaps it is time that you consider doing something about it. Did you know that if you get an IVA, then you can get back on your way to financial freedom? An IVA is an Individual Voluntary Agreement—that is it is a legal binding agreement between you and your creditors. In it, a payment plan is set up so that you can pay what you can afford to all of your creditors. However, this is not something that you can do by yourself, so please check out the link for more information on how to arrange an IVA or so other debt agreement so that you can get your life back on track!
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