Avoiding Financial Struggles
Anyone who has been through a collections process knows that it is a very emotionally shaking experience. Calls at all hours of the day, demands being made that you simply can’t afford to live-up to, and even court orders and garnished wages.
There are some answers to avoiding that hassle, but one stands out as a way to avoid having to declare bankruptcy, and do the Christian thing by paying back what you owe. That answer is debt consolidation. But what exactly is it?
Pay Creditors Back Without Breaking the Bank
Essentially, debt consolidation is taking out one large loan to pay off all the smaller loans that people pick-up in their lives. This allows for you to clean the slate, without leaving the creditors in a bind and without the money that they’re owed.
It also simplifies the financial aspect of the debt, bringing the entirety of the bill under one roof. Instead of writing multiple checks to multiple different financial organizations, it involves writing one check to one place, making.
Will it Hurt my Credit?
The great thing about debt consolidation from a trusted group is that debt consolidation is treated just like any other loan. It’s impact on your credit score is in direct relation to how you handle the loan itself. By showing effort to repay the loan, your credit score can increase. Failing to pay it back will have you seeing your score go down.
Christians Helping Christians
Debt consolidation is one of several services offered by us at Christian Credit Counseling. We are a not-for-profit group, meaning our actions are not driven by us making a profit, but rather by helping you get through this challenging situation. If you are in need of our services, contact us and we’ll help you through this struggle and get you on the road to debt recovery.
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.