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 Many Americans seek out the help of Christian debt consolidators and for good reason. According to Federal statistics, about 4% of the U.S. population has $10,000 or more in credit card debt. To most of us that number looks pretty big. Even more surprising is that Americans owe an estimated $750 billion on their credit cards.
So it only makes sense that debt consolidation service is something of interest to many Americans. But what are Christian debt consolidation services all about?
Christian Debt Consolidation Services
In this article we're going to talk why many Americans seek the services of a Christian debt consolidator - who may also provide help with debt settlement services and debt reduction. We're also going to talk about how to go about finding a reputable Christian debt counseling service including the various solutions they may offer. Finally, we're going to talk briefly about some of the alternative debt consolidation help that's available to the general public.
Christian Debt Solutions
When we fist decided to include a debt consolidation section in this publication, we did a lot of research. In today's world, debt and loans are a big part of nearly everyone's personal finances. But when we were searching for information, we kept running across a large number of websites claming to be offering Christian debt solutions.
But why do consumers seek the help of Christians when it comes to dealing with their debt problems?
History of Christian Debt Management
The Bible has over 2,000 verses / references to earning, saving, spending, investing, and giving money away. Christian debt consolidation services are based on a helping others to help themselves and lending a hand. And while the concept sounds great, we were skeptical and the more we looked, the more suspicious we grew.
It was really hard to see the link between the Bible and managing debt. So we kept on looking for what we thought were charities offering legitimate help in managing one's debt.
All Kinds of Christian Debt Help
Let's start by talking about the attributes or qualities of a company that offers genuine Christian debt consolidation services. The first thing you should look for is a statement about non-profit status, usually reference to an IRS 501(c) (3) non profit charitable organization. These companies also offer free credit and debt counseling along with the proper guidance to help you stay out of debt through budgeting.
False Claims of Christian Help
At the other end of the spectrum are companies that claim to be Christian debt consolidators, but have absolutely nothing to do with this helping-hand concept. In fact, it is quite easy to find companies claiming to offer Christian debt help but then quickly point out why such services are bad for you.
Somewhere in-between you can find companies claiming to offer these services, but if you read the fine print they talk about making "donations" made directly from your payment or donations given to the "Christian" non-profit organization from the actual company writing the debt consolidation loan.
We have to admit that we had to look search pretty hard before we found what we thought were legitimate Christian debt consolidators. Unfortunately, most of the companies we found ran ranged from somewhat suspicious to very suspicious. It was disheartening to see the abuse of the term "Christian" was so widespread.
Finding Legitimate Debt Consolidation Services
Since we've done a lot of research and reading, we're going to try and save you some time by telling you what to watch out for when selecting a debt consolidator - Christian or otherwise:
Potentially Misleading Debt Services
- If the company appears more interested in offering you a chance to talk to a free debt counselor, be suspicious that the company is more interested in having someone take down your private information then helping you control your debt.
- If the company appears to be pushing you towards filling out a debt consolidation application, you should be suspicious that all the company is really trying to do is give you a quotation for a consolidation loan - and the hard sell will follow.
- If the company promises to offer you instant credit repair be very suspicious since instant credit repair is not possible in nearly all situations.
Signs of Quality for Debt Services Help
- A company offering real Christian debt consolidation services will focus on forming habits to get you out of debt, managing your finances, and similar types of debt and credit counseling. The focus is on forming good habits to keep you out of debt first - having you fill out a debt consolidation application will always be secondary or as a last resort.
- You should look for is a statement about non-profit status, which will usually contain a reference to being an IRS 501(c) (3) non profit charitable organization.
- Look for credit counselors that are members of the National Foundation for Credit Counseling or NFCC - which is a non profit organization that is dedicated to setting of standards for debt and credit counseling. The NFCC seal assures you that the agency has met the high standards and ethical practices set forth by the NFCC.
Please don't misunderstand us to say that every debt consolidator is evil. That is simply not true and you might find some very reasonable arrangements through such companies. The warning here is that if you are seeking the help of a real Christian debt consolidation company, you are liable to run into a lot of companies that have disguised themselves as offering such services. And we're not sure we would do business with a company like that.
About the Author - Christian Debt Consolidation
Bill Sharlow is the Editor of Money-Zine.com. Copyright © 2004 - 2007 Money-Zine.com
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