Debt Consolidation Counselor

Debt consolidation counseling can be given in a variety of ways by a plethora of qualified organizations that assess an individual's previous and current financial situation in hopes to create a solution to relieve that individual of debt. A debt consolidation counselor can provide the much needed help for Americans today as a result of the surpassing 2 trillion dollars in consumer debt. This equates to over $18,000 of financial burdens per American household (not including mortgages). Consolidating advise can relieve the monthly burden of bills and let the debtor keep a larger portion of his/her income.

Qualification for a consolidation loan often includes a visit with a debt consolidation counselor. While many lenders will lend money for any reason to a homeowner with equity, a debt consolidation loan is a specific loan in which funds are directly dispersed to the creditor to pay off the balances. The key to providing consolidating advise is to educate the debtor on the important ramifications of accumulating financial burdens, and how to avoid it in the future. A counselor will work with a debtor to create a livable lifestyle budget to follow.

If the debtor makes a commitment to follow the newly created budget, and has completed the required counseling sessions, he may be approved for the loan. It is important to note that debt consolidation counseling pertains to keeping the debtor out of financial trouble in the future, and that the consolidation loan, is a loan, and monthly payments for an extended period of time are required. Usually consolidating loans carry a lower interest rate than that of traditional loans or credit card accounts. A debt consolidation counselor will encourage this method because it is a perk for those who are serious about getting relief from their financial burdens.

The Bible says in Romans 13:8 "owe no man anything." A Christian financial advisor will almost definitely refer a debtor to this passage. The premise behind this passage is that anyone who owes another is essentially his slave. The creditor is the master; the debtor is the slave until the balance is paid off. While debt consolidation counseling and loans do not completely relieve the debtor of financial burdens, it does enable the debtor to only owe one lender, instead of multiple ones. A debt consolidation counselor can help free up some of the burden so that an individual can live a more fruitful and free life.

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