Christian Debt Relief: What are Your Options?

Unfortunately, with the downturn in the U.S. economy, credit card debt problems have become one of the biggest challenges facing Christians and their families as they strive to have a healthy financial 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 Christian debt relief solutions available that can help resolve this credit card debt predicament. Christian credit card settlement and Christian consumer credit counseling may be viable options that allow Christians to avoid filing bankruptcy yet still give the hope of a debt free future. There are three primary methods of resolving credit card debt and other unsecured debt problems. 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 make a plan, and commit yourself to improving your financial situation.

<b><u>Debt Consolidation Loans</b></u> – Debt 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 onClick="javascript:pageTracker._trackPageview('/outgoing/article_exit_link');" href="http://www.christiandebtconsolidation.net/DebtConsolidation.htm">debt consolidation loans</a> is that they 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.

<b><u>Christian Credit Card Settlement</b></u> – Less well known but becoming a more attractive form of Christian debt relief is Christian credit card 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 credit card 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 bankruptcy 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 credit card settlement companies do provide complimentary consultations to review the specifics of their program, and there is no obligation for the free consultation.

<b><u>Christian Consumer Credit Counseling</b></u> – More familiar and also a viable Christian debt relief solution to investigate is Christian consumer credit counseling. Christian 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. Christian consumer 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.

If your goal is a healthy financial future, and you are currently struggling with credit card debt and other financial problems, then the first step is to assess where you currently stand financially. Next, begin the important research of possible Christian debt relief solutions that are available, including Christian credit card settlement and Christian consumer credit counseling. Being proactive before “things get any worse” is critical to achieving your financial goals. If things are already extremely serious, there is still hope but time is of the essence. Make a plan and commit to taking action immediately. Keep in mind that you are not alone in your financial struggles.