Mauricio finds himself fiscally overextended and seeks counseling from a bankruptcy expert.The expert urges him to try to change his debt management behaviors to avoid bankruptcy.Which of the following is likely NOT one of the things he is instructed to do?

Question

Quizplus · Accepted Answer

Paying off debts with low interest rates first is generally not advised in debt management strategies. Instead, methods like the debt snowball (paying off smallest debts first for psychological wins) or the debt avalanche (paying off highest interest rates first to save money over time) are recommended.

Mauricio Finds Himself Fiscally Overextended and Seeks Counseling from a Bankruptcy