Most of the debt that we sign on for is repayable in monthly installments. While this is a convenient repayment method for most of the time, there is a fundamental principle involved here. It is assumed that you will be earning a stable income month after month and that you will find it easy to meet your monthly debt repayment obligations. But if you encounter some sort of setback at work or if you are faced with an emergency, you could start defaulting on your monthly obligations. In such a situation, you should immediately finalize a debt management plan in conjunction with the debt advice providers.

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