Christian Debt Consolidation Programs and Information
What Christian debt consolidation programs have you come across? Have they helped you?
Christianity is a global bond that brings together millions of people and with their faith in common, it's natural that companies specializing in debt consolidation help Christians with their debt burdens.
Their role is to act as an intermediary between you and your creditors, seeking to come to an agreement that is mutually beneficial. The creditors get their money on time, your interest charges are usually frozen or low, and your monthly payments are greatly reduced.
Note that most services can only negotiate on your unsecured debt. Mortgages and auto loans are not possible to consolidate in this manner. You have to go directly to the lender for this and negotiate.
What Type of Debts Can Be Consolidated?
Most unsecured debts are applicable, including:
- credit, store and charge cards
- unsecured home improvement loans
- unsecured loans for debt consolidation
Benefits and Drawbacks
Programs vary from company to company, but given that the (Chapter 13) bankruptcy is increasing many Christian decide to go this way. This last resort option is for mostly heavy debted individuals though. If you can find a Christian debt consolidation service that will take on your case before considering bankruptcy, it will be wise to be open to that option.
Often this service will be able to negotiate strongly on your behalf, including the potential for fixing current credit history problems.
You don't have to of had missed payments to qualify for their help. Many consumers struggle to make the monthly minimums on their credit cards and other finance payments. Employing a Christian debt management service could prevent you from going into more debt and possble penalty fees as well.
Once you have a debt management company working on your accounts, expect to have difficulty seeking new credit from the organizations who have been affected.
Your management company will probably discourage you from getting more credit anyway, as that's how you ended up needing their services in the first place.
This is a detailed topic, so please click on any of the headlines below to read more about this option for consolidating your debt.
Please contact Debt-Consolidation-Help-101.com with questions or comments on this topic.
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