Debt can be such a debilitating thing. Not only does it hinder every aspect of your life in a financial sense, but it also lingers at the back, or for front, or your mind, causing you stress and sleepless nights. For many, even a small amount of debt can have these same effects.
And the only way to cure it is to pay it off. But, again for many, paying off debt isn’t an easy task. The main reason people find themselves in this position is due to financial struggles – or, to put it simply, lack of money.
It might be that they have fallen onto hard times, had an emergency, lost their job, or started a new venture and needed the funds to do just that. Whatever the reason, suddenly finding the money to pay it all off plus the interest isn’t something that is anywhere near possible for pretty much everyone in this situation.