While Connecticut has a above average level of income when compared to the national level there may still come a time where we have to borrow money. There are some issues that must be thought over before arranging money from friends and family for debt management. The first step in debt management is to reveal the economic situation to whosoever is the proposed lender. This enables the lender to decide whether it is possible for you to repay the money. It has been experienced not only in Connecticut, but also in all parts of the world, that failure to repay the borrowed money is the definite road to lose friends or invoke family crisis. Selection of the person from whom to approach for your Connecticut debt consolidation is very crucial. Those who have excessive funds that have been invested are the ideal lenders. The rate of interest must fulfill two conditions. It must be lower than the financial lending institutions offering Connecticut debt consolidation from where you otherwise would have borrowed money. Simultaneously, it must be more than that offered by the institutions where the proposed lender has invested his money. In this way, the deal is profitable to both the borrower and the lender. However, it must be emphasized at this juncture that explaining the financial condition to the proposed lender has great significance. He must feel positive that he is making a secure investment. The friend or family member must not feel they are making an obligation by disbursing the amount, as they would have to face a similar state. If the borrower is doubtful of repayment of the money borrowed from the friends or family member, then a different course of action is advised. He must then approach the financial lending institutions for debt consolidation. Sometimes it may happen that the friend or family member may become interested in gaining some more interest by lending you the money. In such a situation, you ought to show him all your books and the budget. You can also take their assistance to chalk out a better budget and a repayment plan. This basic form of debt counseling would be of immense help to come out of any debt crisis.