With U.S. consumer debt exceeding $3.898 trillion as of May 2018, it’s easy to see why accumulating debt is often considered “the American way.” The typical U.S. credit card holder owes an average of $5,234 to their creditors. If you find yourself in over your head with debt, you’re not alone. Seeking help from a Christian consolidation counseling credit card firm may be the right choice for you.
However, as a Christian, you understand the Bible emphasizes the importance of living a debt-free life. Thankfully, debt consolidation services for Christians are readily available. Read on to learn more about the benefits of Christian consolidation counseling credit card services.
Debt Consolidation Plans for Christians
If you’re a Christian, eliminating debt likely holds special meaning for you. Throughout the Bible, warnings about the dangers of owing debt can easily be found. In Proverbs 22:7, it states that “the rich rule over the poor, and the borrower is servant to the leader.” This exemplifies the principle that one man cannot serve two masters. When you are in debt, you’re not just under the authority of God—you’re also under the authority of your creditors and therefore have two masters. Through Christian debt consolidation, you can return to existing solely under the authority of God once more.
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Help is Available for Christian Debtors
It can be easy to feel ashamed and alone when facing seeming insurmountable debt. As a Christian, you surely want to make good on your debts and to avoid bankruptcy if at all possible, but how can you do that effectively? Debt consolidation has become an increasingly popular option for the general population, and Christian debt consolidation services are readily available for people of faith. Our company works with independent law firms around the country, including ones that specialize in Christian debt consolidation and counseling.
How it Works
Christian debt consolidation emphasizes core Christian values like honor, honesty and financial responsibility. The actual process is the same as “regular” debt consolidation in that it involves moving several unsecured debts over to a single loan or credit card. This can be a viable option, but it’s not right for everyone. It’s most likely to work for you if:
- your credit qualifies you for low-interest loans or credit cards
- your total debt doesn’t exceed more than 50 percent of your annual income
- your income is generally enough to cover your existing debt payments
- you are willing to undergo financial education to avoid repeating the same mistakes in the future
Top Benefits of Christian Debt Consolidation
Some of the top reasons to consider Christian debt consolidation include:
Get Out of Debt Faster
As a Christian, owing debt is particularly stressful. With debt consolidation, everything is streamlined into a single monthly payment. This makes it easier to pay down the total amount that you owe more quickly and efficiently.
Make One Monthly Payment
Keeping track of several debts, and making sure that those bills are paid on time, is no easy feat. Debt consolidation simplifies things by consolidating everything into a single loan or onto a single credit card.
When debt gets out of hand and you owe money to multiple creditors, the odds of missed and late payments increase. In turn, you are likely to face late charges and other penalties. Consolidating those debts means fewer fees and penalties. Similarly, you can often consolidate high-interest loans into a single low-interest one, which can save you a considerable amount on interest charges over time.
Stop Being Harassed By Creditors
Once you’ve consolidated your outstanding debts, you won’t have to deal with multiple creditors anymore. If you’ve fallen behind, this means that you can finally put an end to the harassing phone calls, mail and other communications.
Improve Your Credit
Certain aspects of debt consolidation can negatively impact your credit. However, these are generally outweighed by the benefits. In particular, a single monthly payment is easier to manage, so you can start to reestablish a strong payment history. This is one of the key factors in developing a high credit score, and it can help you to improve your score faster.
Live By Christian Ideals
Finally, unlike bankruptcy and many other debt relief options, debt consolidation allows you to still make good on your financial obligations. You may be able to save on interest and penalties, but you will still be paying down the principal and repaying your debts. As stated in Psalm 37:21, “The wicked borrow and do not repay, but the righteous give generously.” Debt consolidation is a wonderful option for people of Christian faith.
Regain a Debt-Free Life Based on Christian Values with Debt Consolidation
While society in general seems to view debt as a matter of course, Christians see things differently. Even the best and most devout Christians can find themselves in financial turmoil, but it’s important to know that help is available and that bankruptcy isn’t a foregone conclusion.
If you are interested in Christian consolidation counseling credit card services, Christian Debt Counselors can help. The sooner you start, the sooner you can regain a life of financial freedom—and one that allows you live the life God intended for you.