DEBT CONSOLIDATION PROGRAM
This type of Program may offer you some of these benefits:
- Stop Collection Calls*
- Reduce or Eliminate Interest Rates*
- Will not affect your 3 digit FICO credit score as long as you remain current*
- Administered by a NON-PROFIT Service Provider*
- Consolidate all of your unsecured Debts into one monthly payment*
This type of program is administered by a Debt Management Service Provider who has several decades worth of experience in the Debt Management and Financial Literacy field and have helped thousands of consumers.
Christian Debt Consolidation
Debt Consolidation is a commonly used term to describe several different debt relief plans that will allow you to combine the qualifying unsecured debt payments into one monthly payment that is affordable for you and your budget. These type of programs are usually offered with lower interest rates, and reduced monthly fees to allow you to pay more on the principle each month rather then so much in interest and fees to the creditors.
By utilizing a debt consolidation program, you will be paying your creditors an agreed upon, reduced monthly payment that reflects on your normal monthly creditor statements. This will help get you on a fixed monthly budget with the creditors, as well as reduce your monthly payment obligation. There is no penalty for getting out of debt faster, it will only save you interest and fees in the long run.
Christian Debt Relief Programs Can Help
Christian Debt Counselors has been working with consumers to work toward a debt free life for well over a decade now. Our Debt Relief service providers have helped tens of thousands of people to regain financial freedom.
Christian credit counseling, Christian debt management program and Christian debt consolidation are common names for this type of program. Many times these programs are offered through a Non-Profit Service Provider.
So Which Christian Debt Relief Program is the Best?
In order to figure out which plan is best you, it will really depend on your overall financial situation. Such as what kind of debt you have, how much debt you have, if you have a financial hardship and your ability to repay the debt you owe to the creditors.
When you contact us, our professional Christian Debt Counselors will work with you to assess your personal financial situation and help you setup a monthly budget. Then we will help explain many different options that you may have available so that you can make the most informed decision on how to get out of debt.
What Kind of Debt Qualifies for Christian Debt Relief Programs?
With the various different Christian Debt Relief programs that consumers have available to them, we are able to help guide clients with credit card debt, personal unsecured loans, past due medical bills, and collection accounts.
This program is basically for anything besides your house or car that is considered unsecured without a title or deed. Originally, creditors developed debt consolidation programs as a way to help their customers work through difficult times repaying their debts. Otherwise, consumers paying high interest on their own may struggle to ever pay off the debts they owe or be stuck paying for the next 30-40 years on credit cards without any help. In this program, you will be making one monthly payment each month that is disbursed to your creditors on time in the amounts they have agreed to accept.
In return, you receive specific creditor benefits from each creditor, that should help you get out of debt quicker!
Will My FICO Credit Score Go Down if I Use Debt Consolidation?
Simply participating in a Debt Management Plan Program will not hurt your three digit credit score rating according to my different credit reporting agencies. If your credit score rating is good, it will remain in good standing as long as you remain current and on time with the creditors throughout the Debt Management Plan Program. If your credit is bad, behind on credit card payments and needs improvement, it will change as you begin this program and become current again. Your credit report should improve from the past due statuses as you continue to be current and over time, this program should help improve your credit worthiness as you pay the debts down. This would potentially reduce the banks from thinking you are a high credit risk from having out of control credit card debts. There is no credit approval done as this is not a loan of any type.
In this type of program, all of your qualifying unsecured debts can be put into one monthly payment that will fit in to your budget, instead of multiple monthly debt payments that can fluctuate monthly. As long as you work within the creditors’ procedures and guidelines for people that are in need of credit counseling, you will be able to pay down your debt without negatively affecting your credit score. Once enrolled in this program. Consumers are typically asked to not get new unsecured credit card debts until you have paid off the credit card debts in this program.
Will My Creditor Charge Interest?
When enrolled into a Debt Consolidation program, some creditors will eliminate interest charges all together for some specific hardship programs. Otherwise, most credit card companies will usually will reduce your interest rate to as little as 6%-9% until the debt is paid off (although individual results will vary depending on several different factors).
Who Qualifies for Debt Consolidation?
If you are struggling to afford your monthly credit card or collection payments, and have a desire to become debt free, then Christian Debt Counselors may be able to help you qualify for this type of program. The credit card companies and banks may also qualify for certain breaks when they work with consumers by proactively trying to work with them before they default into collection. In return, you may see a significant decrease to your monthly payments, sometimes reduced substantially!
It doesn’t matter what your financial situation is, everyone can benefit from getting help on paying off these debts quicker if they have a financial hardship. Avoiding bankruptcy, stop or reduce harassing creditor calls, and get help from one of our trained professional Christian Debt and Credit Counselors. Get on track to become Debt Free! We will work with you to help find the best program that fits within your monthly budget and will give you a light at the end of the tunnel!