subject: Christian Debt Management [print this page] There are so many consumers with mounting debt problems these days that many free organizations have sprung to help them. Some are affiliated with the U.S. military, colleges, businesses, and even churches. Christian debt management and counseling companies are popular too.
While there are many legitimate organizations that are church based, there are also many who just include the name on their Christian debt management programs. It creates a marketing draw and people think they must be honest because they are Christians. Unless a consumer has direct knowledge of one of these services, or can locate people who have used them and can vouch for them, it requires some research to find out if they are what they say they are. Legitimate ones can be found and they do good work.
Christian debt management is no different from any other company that handles this type of debt resolution. In debt management, principle balances are rolled into a monthly payment plan, and when enough funds are amassed to work with, a debt relief company goes to work on the creditors. They renegotiate the balances, and pay off the accounts as funds become available. The accounts are then closed. Regardless of what kind of company is doing the work, the usual program term length is from twelve to thirty-six months. And regardless of the company, a credit rating will take a fairly large hit. But it is a good way to get accounts in order, and get life started on a more positive financial note.
There is nothing wrong with Christian debt management as such, but consumers should not be mistaken that it is any different from what other companies provide. It is an excellent program for those who have suffered from job loss, divorce, or major medical illness and who are having a tough time making ends meet. While the spiritual aspect may lead people to think that they will receive something more by using a Christian debt management company, it is basically all business and just the same as anywhere else. Spiritually is found within the self, and within the church itself ... not within a debt resolution company.
For debt management to work and work well, a consumer wants to choose the company who can do the best job. It means researching them, and looking at their results, and it means checking to see what their fees may be.
