July 17, 2015

Credit Counseling

If you have fallen in love and plan to get married, it’s an exciting time. Many brides and grooms come into a marriage with credit card debt that creates challenges for a new life together. According to an article by time.com, there is hope for people who fall in love with someone who has credit card debt. As a married couple, you can seek credit counseling together to learn about solutions that are part of God’s plan for your life. By signing up for a debt management plan, your future or current spouse consolidates credit card debt into one simply payment. Trained credit counselors with Christian Credit Counselors get on the phone with your creditors to get them on board with a lower interest rate.

To find out you aren’t financially alone

When you receive credit counseling, you find out you aren’t alone. As far as credit card debt, the situation is not that uncommon. According to a survey by NerdWallet, 35 percent of couples with combined financing have at least one person in the relationship with credit card debt. Forty-five percent of young people in their 20s and early 30s have revolving credit card debt, which means they don’t pay off the balance every month.

So you can achieve your financial goals

Even as a Christian, it is not bad to have financial goals such as owning a home or having money to fund a vacation, wedding or honeymoon. When you receive credit counseling, you learn to budget so you part of your income goes toward short and long-term savings goals. According to time.com, most people enter a marriage with about $4,000 in credit card debt. Some of the negative consequences include having so much debt that they can’t enjoy life or reach goals.

To minimize marital friction

Credit counseling lets you get a handle on your finances so debt and personal finances do not create conflicts. One poll by time.com found two in 10 couples argue about money. However, younger respondents accepted debt more than pre-retirees and retirees. Money problems are one of the main reasons cited for divorce.

At Christian Credit Counselors, we help young and older couples consolidate debt, budget and improve their credit scores. If you are planning to get married or recently tied the knot, consider the value of being open and transparent about money. Open up about your credit card debt with a partner early in the relationship. By paying off your credit card debt with a debt management plan, you give your spouse and new marriage a major blessing.

Do you want to know more about debt and how you can make smart financial decisions now that will help you secure a more prosperous financial future? Sign up for our newsletter for monthly money tips.

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