Credit Counseling vs. Debt Settlement

adminChristian Credit Counselors, Credit Counseling, Debit & Your Credit Score, Debt, Debt Consolidation, Debt Settlement, Uncategorized

Christian Credit Counseling

Resolving Your Debt

If you have decided to resolve your debt, you may be looking at different options available to help you through the process.  Although debt settlement may seem promising beware.  The reasons below explain why you should consider credit counseling instead of debt settlement.

Debt Settlement Is Often A Scam

You have probably seen the ads on the internet indicating you can become debt free with debt settlement.  The reality is there are many companies out there that are looking to make money and don’t have your best interest in mind.  Debt settlement companies have been accused of failing to work on the behalf of consumers and not contacting creditors as they had promised. They collect the fees but don’t actually do anything for the consumer.  Debt settlement companies are for profit and consumers will owe taxes on the any forgiven debt.

Debt Settlement Is Too Good to Be True

Debt settlement companies often promise that the consumer will be debt free in an unbelievably short time period.  They indicate that they can negotiate to settle the debt at a fraction of the amount the consumer actually owes.  The fact is that this is too good to be true.  The consumer ends up paying a significant set up fee and monthly service charges to the debt settlement company so in the end they are out more money and their debt has not been improved.  Some consumers end up in worse debt than when they started.

Credit Counseling is a Realistic Way to Resolve Your Debt

Don’t despair.  Although debt settlement is not the way to resolve your debt you do have another option that will help.  Credit Counseling will provide you a solution to your financial issues.  You can enroll in the Debt Management Program (DMP) in which all of your unsecured debt will be consolidated and you will pay one monthly payment.  Christian Credit Counselors will work with creditors to reduce your interest rates which helps you pay off the debt within about 3-5 years.  Your monthly payment will go to Christian Credit Counselors who will send the funds directly to your creditors.  In the end you will have paid off all of your outstanding debt and your credit score will not be negatively impacted.

Tell Me About Christian Credit Counselors

Christian Credit Counselors is licensed in 31 states, been in business over 24 years, and has helped over 300,000 individuals. Christian Credit Counselors has certified counselors to help answer questions and provide solutions.  Several accreditations and certifications include the Better Business Bureau A+ rating and the Council on Accreditation.  Christian Credit Counselors is a non-profit organization that provides educational tools and credit counseling to help consumers regain financial control.

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