Christian Debt Solution

A Christian debt solution can help a Christian to avoid bankruptcy through negotiation and consolidation of financial obligations. Some of the services they offer include learning how to live on a budget, working with creditors to lower interest and principle, working on restoring credit, finding out how to consolidate bills, and learning what God's word says about debt. "Owe no man anything, but to love one another: for he that loveth another hath fulfilled the law" (Romans 13:8). Negotiation can mean paying off a lower balance with less interest. Consolidation can lead to lower interest and one monthly payment instead of many. Credit repair can help to raise credit scores so that lenders will offer lower interest rates and fees. A Christian debt solution can help people to get their finances in line with God's word.

Consumers who find themselves in financial distress need to pray and ask God for guidance on how to successfully manage debts and how to keep from becoming indebted once all their bills are paid off. They need to consider using a Christian debt solution as a resolution for financial problems. In today's world there are some options for those who need help. Online there are many companies who promise solutions. God's children should seek out help through companies who are founded on God's word, who have ethics and are honest and trustworthy. People who will pray for you and with you are the type of friends who will go that extra mile to help.

Sometimes things happen where God's children get into situations that are undesirable and stressful. Society encourages consumers to spend. Advertisements give products power that they really do not have by saying that they can do this or that. Not exercising restraint can get anyone in trouble with overspending and poor money management. Lenders make credit card offers sound great. Most consumers who apply for credit cards and use them find out in a few months that they are set up to keep a person in debt. Once interest and fees start being applied it becomes almost impossible to pay them off. Other things that can contribute to financial distress include high house and car payments, rising fuel and food prices, and trying to pay high cell phone bills, cable bills, and high utilities. A Christian debt solution can be a good place to start for someone who is seeking answers on how to cope and how to get out from under the yoke of debt.

One of the first things that most people think about when having financial difficulties is filing bankruptcy. Chapter seven bankruptcy allows a person to write off high interest credit card debt which is what gets most people into trouble. Before a consumer can file bankruptcy he or she has to attend a class on consumer credit counseling. A certificate of completion of the class has to be presented to the court. Filing bankruptcy can be very costly as an attorney will have to be retained and court fees have to be paid. Afterwards the bankruptcy will be placed on the credit report of the debtor. This will stay on the report as a public record from seven to ten years. A Christian debt solution can offer a consumer different choices on tackling financial problems so that he or she will not have to file bankruptcy.

Settlement and negotiation are two options that can help with financial obligations. Companies online that offer a Christian debt solution include these services. Some creditors would much rather settle from some of what the debtor owes than have them file bankruptcy. Companies that offer services work closely with many creditors to negotiate a settlement for less than what the client actually owes. Additionally the creditor agrees to stop all late charges and interest. Settlements can be anywhere from 40% to 75% of what is actually owed. If the client can offer a lump sum amount that can be paid immediately they may accept a lesser amount. Negotiation may include an agreement where the debtor pays so much a month until it is paid off. The important thing to remember with this type of arrangement is that the client must be willing to make sure the payments are made on time or the creditor may not honor the agreement.

Learning to live on a budget is essential in overcoming money management problems. A Christian debt solution employs professionals who understand how to set up a budget for the client so that he or she will have success with changing their spending habits. The client must be willing to write down all expenditures and keep track of every penny. A budget will show total income and total debts. There is a category for each creditor and for every expense. When the client spends more than is allotted on the budget then he or she will have to make up for it somewhere else. Spending too much on groceries will mean less available money for other things such as entertainment.

Consolidating debts is another service that can help a consumer to pay off existing debts by acquiring a loan. The loan will mean having one monthly payment instead of several. Hopefully the interest on the loan will be much lower than the debts that are paid off so the monthly payment amount is considerably less than all the obligations were together. If the debtor owns a home they may be able to take out a second mortgage or if there is enough equity then it might be possible to use an equity line of credit to pay off bills. Loans on property usually have lower interest compared to personal loans. A Christian debt solution provides the consumer with valuable information so that the best decision can be made that provides the most benefit.

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