The 411 (info) on Christian Debt Consolidation

So What IS Christian Debt Consolidation?

2009-08-04T08:09:00.000-07:00

This question, just what is Christian Debt Consolidation is really what is behind me starting this site. I know what debt consolidation is, that's essentially where a company can give a fixed, hopefully lower interest loan to combine two, three or more credit card and other loan balances. There are many advantages to debt consolidation.

The first big advantage is only having a single payment to make on your outstanding debts instead of multiple payments. When you are trying to eliminate your credit card debt, one of the challenges that can be most troubling is the constant struggle to make a good sized payment on each card to at least keep up with the interest, but hopefully to whittle down on your balance. When you have 3, 4 or more loans that have different payment due dates you can have the feeling of being nibbled away at constantly, every month. It's much like an army fighting a war on several fronts. Things become much simpler if there is only ONE payment to make.

The second potential advantage of debt consolidation is that you may be able to get a lower interest rate than your existing credit card rates. Many credit cards carry outrageous interest rates of 20% and more which can be crippling and make the prospects of paying down your balance all the more challenging. If you are able to get a lower debt consolidation loan rate then you may save hundreds of dollars a year in interest charges.

It may not be possible to get a significantly lower interest rate and in some cases your debt consolidation loan rate may be higher than your current individual interest rates are. If this is the case you will have to carefully weigh the advantages of combining to have one payment with the extra money you will be paying on interest.

While many people can find debt consolidation to be a helpful way to get out of credit card debt, there are other pitfalls to watch out for. The first and perhaps biggest danger of them all is if you combine credit card balances into a debt consolidation loan, be careful NOT to start building a NEW balance on your credit cards. The best advice here is to cut the cards up, or at the very least tuck them away at home for safe keeping and don't carry them with you. You need to resolve to use either cash or checks for your future purchases if at all possible and for those rare times when credit card is your only choice, go ahead and set aside the cash to pay the total either before your statement comes with the online payment that many cards offer, or once the statement comes.

So, we've talked about debt consolidation, what about Christian debt consolidation? What sets these companies apart? Many of these companies have an open statement of faith, so that a Christian knows they are doing business with a company that believes in God. We can hope as well that these companies strive to work ethically according to God's laws. I suspect that these companies may be able to help with counseling resources related to the OTHER affects that massive debt can have on our lives. These other affects can include depression, low self-esteem, stress, fatigue, working too much, damaged relationships. They also, I think, will understand that for many Christians' bankruptcy is not an option that they are comfortable with and that is why they are looking for the lifeline of debt consolidation. I can only speak for myself, but as a Christian I feel it is my duty to pay back what I have promised to pay.

I also would go as far to say that as a Christian, I would not be comfortable dealing with a company that was willing to "negotiate down" what I owed to the credit card companies. I ran up the bill, I should be responsible for paying it all. The idea of getting a company to accept less than what I owe doesn't feel right to me.

All of that said, I don't know for a fact that the above is what Christian Debt Consolidation companies are doing. That's the reason for this site. I want to research and write about the different debt consolidation companies that advertise for Christian debt consolidation and see what services they provide, how they are viewed and what about their services make it Christian. So, we'll likely find the answer to what is Christian debt consolidation as we continue with this site.

About Us

2009-07-15T12:52:00.000-07:00

Over the last several years I have started seeing ads related to Christian Debt Consolidation. It piqued my interest, for several reasons: first and foremost probably because we have been working to get rid of credit card debt, but also because we are practicing Christians and wondered what this business slant on Debt consolidation really meant.

What exactly does the phrase Christian Debt Consolidation really mean is really one of my fundamental questions in starting this site. I would assume (or rather would like to assume) that this means that the companies are going to act in an upright and ethical manner in their dealings, but outside of that I don't know exactly what they're trying to communicate with these services. There is no foundation in scripture for a plan of consolidating debt, so it's not as if they've found some set of instructions in the New Testament on how to get people out of debt.

Still it is interesting, because they are really going to be under the microscope (or so you would think) because they're going out on a limb promising Christian Debt Consolidation. (Why don't we see Muslim Debt Consolidation, or Jewish Debt Consolidation offers??? For that matter, why not Baptist Debt Consolidation (or at least Protestant and Catholic Debt Consolidation.)) My suspicion is at first that it's simply a marketing ploy and nothing more.

This is a sad realization perhaps rooted in some cynicism. So, I wanted to create this site to explore the companies that are offering Christian Debt Consolidation, their services, what makes them special and whether they seem to be ethical in their dealings with both their customers and the other businesses they deal with. It should go without saying, but I can only give reviews based on what I am able to publicly ascertain about these businesses and my comments are meant in no way to be a final judgement on them. I just thought it would be an interesting analysis and I think others might find it useful and interesting as well.

That much said, I suppose I may poke a few hornets nests as I take a look at the companies offering Christian Debt Consolidation, but.... we'll let the chips fall where they may. Be sure to visit back for more.

Disclaimer

2009-07-14T12:46:00.000-07:00

We at The info on Christian Debt Consolidation are not responsible nor are we associated with the companies that we are providing information on. Our goal here is to be an information clearinghouse on the subject for you as you research your options in this area.

IF at any time in the future we become associated with a specific Christian Debt Consolidation company either by entering into a special relationship with them for advertising purposes or by contracting with them for debt settlement, then we will notify our visitors as to that fact.

Currently we do expect to have ads related to Christian Debt Consolidation on our site served via Google, but that does not imply an endorsement of a specific company, nor a recommendation against any company or group.

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2009-07-01T12:50:00.000-07:00

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2009-06-01T12:46:00.000-07:00

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