Outstanding Debt & Your Credit Score: What You Need to Know to Stay Financially Healthy

In today’s credit-driven economy, maintaining a good credit score is essential for achieving financial stability and accessing important life opportunities — whether it’s buying a home, financing a vehicle, or even landing certain jobs. But one of the most influential factors that determine your credit score is outstanding debt.What exactly is outstanding debt? How does it affect your credit score? And what steps can you take to minimize its impact?In this comprehensive guide, we’ll break down everything you need to know about outstanding debt and its effect on your credit score — so you can make smart, informed decisions for your financial future.