Christian Debt Relief: You Can Be Debt Free!
By Tymon Hytem
Unfortunately, credit card debt problems are one of the biggest challenges facing Christians and their families as they strive to have a debt free future.  Credit card debt is crippling not just Christians, but all Americans, regardless of faith or race or gender.  The good news is that there are options available to resolve the debt predicament that so many people find themselves confronted with these days.  There are four primary methods of resolving credit card and unsecured debt problems for Christians seeking debt relief.  The most important step is to get started and begin your research of the different solutions.  A debt free future is within your grasp, if you have a plan, and commit yourself to changing your financial destiny.
Bankruptcy - When Christians face such severe financial hardship that they feel they must explore something as “life changing” as filing bankruptcy, we encourage them to seek out all other alternatives first.  Filing may allude to the feeling of a “fresh start” and might provide immediate relief from the stress created by financial difficulties, but this is not necessarily an accurate picture of your “brighter financial future”.  A will remain on your credit report for up to 10 years.  You will face difficulty in securing home mortgages or auto loans at reasonable rates of interest, potentially costing thousands of dollars in additional interest charges resulting from high interest rates.  A can also impact future employment opportunities as more employers are now completing credit checks as part of their screening process.  Walking away completely from your financial obligations should be the last resort for a Christian.
Consolidation Loans – Consolidation loans are one of the first Christian debt relief solutions that come to mind when it is time to resolve credit card debt issues and build a better financial future.  The “catch” with a consolidation loan is that it almost always will need to be secured with collateral in order to qualify for the loan at a favorable interest rate.  And the collateral will undoubtedly be your home.  This conversion of unsecured debts to “secured debts” can be a risky path to start down. If you are already experiencing an unsecured debt problem, and it occurred because of some unforeseen circumstances like extended job loss or family illness, then you realize there is a chance something similar could happen again. If you find yourself in a similar financial crisis and cannot make your payments, the reality is that you could lose your home.  The advantages are a single

monthly payment at an interest rate that most definitely will be far less than you currently pay your credit cards, and a more rapid elimination of your debt problem than just continuing to make the monthly payments to your creditors.
Debt Settlement – Less well known but becoming a more attractive form of Christian debt relief is Christian debt settlement. Debt settlement is a debt reduction solution involving the negotiating of creditor balances down to a mutually agreed upon “reduced amount” that is considered payment in full by the creditor.  Christian debt settlement companies are for profit entities, and perform this negotiation directly with the contracted creditors on your behalf.  Christian debt settlement is gaining in its popularity because it is certainly a feasible alternative to since the creditor receives a reduced offer they find acceptable, and do not go away with nothing.  Christian debt settlement is also a fast way of reducing credit card and unsecured debt problems.  Christian debt settlement companies do provide complimentary consultations to review the specifics of their program, and there is no obligation for the free consultation. 
Credit Counseling – More familiar and also a viable Christian debt relief solution to investigate is credit counseling.  Consumer credit counseling agencies are non profit organizations that will assist Christians with a detailed analysis of their financial situation.  If a certified credit counselor feels that a credit card debt problem cannot be solved with basic changes in spending and budgeting, they will recommend a debt management plan.  The debt management (repayment) plan is designed to pay the creditors in full for the current balances due, and then any interest charges that continue to accrue on those accounts.  Credit counseling agencies will negotiate interest rates down with each individual creditor, and can sometimes get the interest to stop altogether.  A single monthly payment is part of the credit counseling repayment plan with the agency distributing this payment to the assorted creditors in your plan.  The consultation process is free and without obligation.

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