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Debt Management: How even responsible and rational planners can incur enormous debts

man-and-woman-sitting-on-reCraig and Jennifer each take their turns pleading their case, and each look directly at Linda while speaking to one another. There’s $80,000 at stake, and each of them are holding their ground. In less than 30 minutes, a decision will be made that will affect both of them, and that will feel more compromising for one than for the other.

Linda, although unbiased as the Lady of Justice, is not cloaked in a judicial robe. Craig and Jennifer are not standing at separate podiums, and there is no crew taping a made-for-TV courtroom show. Craig and Jennifer are a married couple, and the decision about how to face their $80,000 worth of debt is entirely theirs to make. Linda is a financial planner to whom Craig’s employer provided the couple access, and today she is called on to serve as financial educator, arbiter and umpire.

Read the full article at Forbes.com


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