What are the Best Christian Debt Solutions?

Mickey | Financial | Wednesday, January 12th, 2011

When looking for Christian debt solutions, there are a number of things to consider. When a believer is in debt, and they do not know what to do, often times they think that bankruptcy is the only option. However, there are plenty of other options that you should try before this. The truth is, bankruptcy has long reaching effects on
your credit score, and only use it if you absolutely must. It is not the easy way out most people believe.

The first thing you should do is look into debt consolidation. There are plenty of companies that are in this industry, and they basically help you combine all your obligations into one single payment. This has two effects. For one thing, it helps you lower your total monthly payment amount, in many instances.

This is because often the companies are able to negotiate you better rates with your creditors. However, even if this is not the case, it just makes paying back your debts easier. After all, instead of having multiple creditors to deal with, you now only have one payment to make, and that is to the debt consolidation company. They will in turn see to it that the money gets to the appropriate creditors, and at the right date.

Another option is debt settlement. This is where you actually can get a lot of your debts taken away immediately, because the settlement firm will negotiate on your behalf with the creditors. Keep in mind, this is a more damaging option because it really harms your credit score. For this reason, only do this if your debts are so far out of control that consolidation is not an option.

The bottom line is, avoid bankruptcy if at all possible. The best Christian debt solutions to help you are consolidation and settlement, in that order. First setup a meeting with a good consolidation company, and have them look over your finances for you. From there, they will determine whether or not you would be able to handle the monthly payments. If not, then settlement is the best help with debt problems you can get.

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