Christian debt consolidation
One of the greatest challenges facing people all over the world is the problem of debt. Whether it is for a car, a home, or an education, it is easy to become so much in debt it can seem like you’ll never get out. Being in debt can make you feel claustrophobic and trapped, destroying your hopes and dreams for the future. Fortunately, there is a way out even if you have a lot of debt. If you are a Christian and want to honorably and responsibly take care of your debt without going into bankruptcy, consider Christian debt consolidation.
What is Christian Debt Consolidation?
You may have heard debt consolidation being described on the radio or a television ad. Basically, debt consolidation is where you have all of your outstanding loans paid off by a third party. Then, instead of making payments to the different companies you once owed money to, you simply make a single payment to the loan consolidation company. It’s a way to simplify your financial life and take control of your debt.
You can consolidate any type of loan you may owe. Some of these include:
- Car loans
- Home loans
- Credit card loans
- Personal loans
- Payday loans
- Student loans
There are some other loans that may be covered, too, but in general you’ll probably focus on smaller loans like credit cards and student loans. Speak with individual loan companies to learn more.
Why Should I Consolidate my Loans?
The main reason why you would want to consolidate your loans is that it makes it easier to pay them all off and get out of debt. If you are paying on several different loans every month, you are probably paying more in interest than you need to and basically spinning your financial wheels in the mud. You may have been diligently making payments on the different loans you have—credit cards, student loans, car payments, etc.—but not feel like you’re making any progress on getting out of debt.
This is where credit card consolidation comes in. By consolidating your credit cards and loans into a single payment you make every month, financial planning is easier. You aren’t surprised by interest rates or other types of unexpected expenses that change from month to month. You can plan your monthly finances with confidence.
Another reason consolidation makes it easier to keep out of debt is that you aren’t as tempted to go back into debt. Credit cards, payday loans and other types of short-term financial help can be a trap where you pay off your loan every month only to take out another one the next month. It’s a never ending cycle where you don’t really go anywhere. When you have consolidated your debt, you can safely throw away your credit cards and not have to use them again. It’s a form of financial freedom.
Once of the reasons to be a Christian is to become free from the world. One of the way the world enslaves us is through debt. Consolidating your loans, if done responsibly, can be the key to financial freedom and happiness.
Think of the many ways you can bless your fellow men and women once you’re free from debt. You can start doing missionary service, spend more time serving the poor and needy, or just spend less time and work and more time with your family. Getting out of debt is a big key to doing more with your life and becoming more of an instrument in God’s hands to do His will in this world. Whether or not you decide to use a Christian debt consolidation company to get rid of your debt, you need to make becoming financially free a priority in your life.
How is Christian debt consolidation Different than Other Types of Debt consolidation?
While you have probably heard of normal debt consolidation, you are probably not aware of how Christian debt consolidation is different. If you are a Christian and study the Bible, you know how God’s word teaches about personal accountability and honesty. The difference between normal consolidation and Christian consolidation is that Christian debt consolidation is all about helping you get your financial life in order in a way that is honest, honorable and financially responsible. Adhering to these principles offers a much more pleasant and simple process than going with a non-Christian company may be.
One of the great things about Christians debt consolidation is that many companies offer this service for free or at very little cost. The act of charity—Christian love—means much more than giving money to the poor or handing some spare change to a beggar. It also means helping out other people, Christian or not, and assisting them in more ways than just handouts. This is why many Christian organizations want to help people consolidate their debt and become financially free.
How do I Consolidate my Debt?
Once you’ve decided to become free of debt and work with a Christian debt consolidation company, you’ll need to follow a few steps.
1. First, you’ll want to make a comprehensive list of your debts. Include information such as how much you owe, the interest rates, and due dates for your debts.
2. Next, make a list of everything you own and all of your assets/income. This can include cars, property, income from your job and alimony payments.
3. Compare the two lists and see if you can get rid of any assets and use them to pay off debt. The more you pay off before you consolidate, the better.
4. After that, develop a realistic budget. Determine how much money you would need to survive every month. Include such things as groceries, gas, clothing, etc.
5. Finally, after you’ve taken steps alone to cut your debt down, contact a Christian consolidation company. They will be able to give you a consultation and let you know how you can benefit from consolidating your debt.
Consolidating your debt in a Christian way can be the key to financial freedom. Contact Christian debt consolidation services today to talk about debt settlement with biblical principles.