If you are burdened with multiple debts, you must be in serious problem. If you are on the verge of missing the debt payments, or if you have already started to miss debt payments, you can take help of a Christian debt consolidation program. Christian consolidation can help you get out of debt and become debt free easily enough.
What is Christian debt consolidation?
Christian debt consolidation works like any other type of consolidation. The only difference is that the Christian consolidation companies help you to get you out of debt by asking you to follow the biblical principles.
According to the Bible, you as a true Christian cannot serve two masters at the same time. The only master is God. However, if you are in debt, you are serving two masters; Jesus and your creditor. So, you should pay off your debts to serve God.
Other than this, such consolidation program works like any other consolidation program, where the counselor negotiates with your creditors to lower the interest rate and the monthly payments as a result of the lowered interest rate.
What are the benefits of Christian debt consolidation?
Following are the benefits of Christian debt consolidation:
- Negotiate with your creditors – The counselor will do all the negotiations with your creditors. He will negotiate to lower the interest rate on your debt and may even negotiate with your creditors to waive off late fees.
- Notify your creditors – The Christian consolidation company will notify all of your creditors that you have joined a such a program. So, the creditors from now on will have to contact your consolidation company.
- Lower the fees – You will have to pay a certain amount of money to the consolidation company for their services. However, unlike other consolidation companies, Christian consolidation companies charge lower fees that you will be able to afford. Sometimes these debt consolidation companies may even offer you free service.
- Offer you rewards – Sometimes, Christian consolidation companies offer you cash back, or sometimes may even reduce the monthly payment that you are required to forward them for their services. Generally such kinds of rewards are offered after some months of steady payments.
- Educate you on handling debts – Some consolidation companies even provide you knowledge on handling your debts so that you don’t incur debts in the future. They instill the belief that you as a human being are supposed to serve God. However when you are in debt, you are serving two heads – God and your Creditor. So, they ask you to stay away from debt.
Lastly, debt consolidation helps you avoid bankruptcy. Like any other consolidation programs, Christian debt consolidation too aims at helping you lead a debt-free life.