Debt Solution

Many debt solutions are offered by companies claiming they can alleviate money burden for little or no money, often suggesting not to make any more payments if using the services of their company; This is not true. Some debt solution companies claim that owing back payment on credit cards is illegal debt because of a loophole in one of the laws; This is a false claim. The best debt solutions are always ones that emphasize restraint in spending and discipline in management.

Many consumers think a legitimate fix is to pay off one credit card with a low- or no-interest-rate credit card. The reason this is not a wise is because it is a short-term debt solution that does nothing to address the larger problem of excessive spending. Debt solutions will continue to be temporary band-aids if they are not grounded in wise counsel. This wisdom can be found in two places: a financial advisor and the Bible. Of course it is always good to find a financial advisor that believes in God. This will mesh Biblical truth with earthly reality.

The choice to gain control of finances is a decision in line with Godly living. God supplies the grace and discipline it takes to get out of financial trouble. By choosing God's way, the best debt solution option, anyone will be able to experience financial freedom. "He that refuseth instruction despiseth his own soul: but he that heareth reproof getteth understanding." (Proverbs 15:32) Weighing all the facts of debt and the personal situation are important in making the best personal decision. What will work for one person will not always work for another person. Patience and prayer are the two best qualities to have when wishing to succeed in financial freedom.

A few legitimate resolutions would be seeking credit counseling, tightening the budget, destroying credit cards, and choosing to live on a cash system instead of a system of credit. If someone's money problems are at an unmanageable amount, a debt solution may be to consolidate, which allows for the possibility of one lower-interest loan payment. There are many different companies that offer consolidation services, and each charge different fees, so make sure to take the time to research these companies. Many Christian organizations will explain different debt solutions for free in an effort to liberate people from financial pressure. These companies offer advice not only for financial matters, but also biblical money management.

Add to: File Insurance Business article Teen Photo Images