Debt Consolidation
Debt Consolidation

Three Reasons To Go With Debt Consolidation

It does not take long to realize that debt is a real problem. When paying bills or trying to ignore a collector’s calls gets overwhelming you know that you need help. It seems as though the solutions are impossible. Money will not fall from the sky. Is bankruptcy your only choice? No! Debt consolidation is a real solution and here is why:

Debt Consolidation means Less Hassle and Less Fees

With so many bills due each month, it is easy to lose track. Different amounts, different companies, and different due dates make it very easy to miss a payment or send one in late. This means more fees and more calls. When you consolidate your debts, you have one payment to make. You are able to pay on time. You no longer have to worry about which one is due. You no longer have to juggle the bills depending on how much money you have. You make one simple payment.

Debt Consolidation Allows You to Pay Your Debt

You are not looking for a hand out. You want to pay what you owe. With debt consolidation, you are able to do just that. By simplifying how you pay, you can actually pay off what you owe. This not only gives you the satisfaction of knowing that you paid it off, but is much easier on your credit report than other methods.

Debt Consolidation makes the Goal Clear

In order to accomplish anything, you must have clear goals. This is true of your debt. With debt consolidation, you have one clear goal. Each month, you will see how that goal draws closer and closer. By making the goal clear, you are far more likely to achieve!

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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    Debt Consolidation
    Debt Consolidation

    Benefits of Debt Consolidation and Bumps of Bankruptcy

    If you have more credit card debt than you can handle, there are different avenues to take to resolve the burden. Some people turn to debt settlement scams because they aren’t aware of the negative consequences. Other people believe bankruptcy could be the solution. Before paying an attorney thousands of dollars to handle a bankruptcy case, save yourself the embarrassment and money by receiving debt counseling. A certified credit counselor will help you understand the key benefits of debt consolidation. Sometimes it is helpful to examine all of the options. If you have a lot of debt, you already know how stressful it is to function day-to-day knowing your credit cards could be declined. By choosing debt consolidation, you leave open a lot of doors for your financial future. According to an article by theglobaldispatch.com, there are distinct advantages to signing up for a debt management plan through a reputable credit counseling agency.

    A single Monthly Payment

    Most people who feel overwhelmed by credit card debt have more than one credit cards. When you sign up for a debt management plan, you only make one payment each month to satisfy your creditors. You no longer have to worry about misplacing bills or keeping up with the various due dates.

    Less Financial stress

    Juggling several different credit card bills is a source of stress for the average American. With a debt management plan, you can automate your monthly payment so you know you’ll pay the bill on time each month. If you have your paycheck automatically deposited into your checking account, it’s another way to simplify your finances.

    Lower Interest Rates

    Another major advantage of debt consolidation is the fact that you’ll likely pay a lower interest rate. If you are the typical person, you likely have credit cards with double-digit interest rates. Your credit counselor will talk to your creditors to negotiate a lower interest rate across the board. When your counselor helps you achieve a lower interest rate, it saves you hundreds or possibly thousands of dollars depending on your total amount owed.

    No collection calls

    Once you get on board with a plan, your credit card companies will no longer bother you with collection calls. If you do receive a collection call, just give them the information about your debt management plan.

    A better credit score

    With bankruptcy, your credit score takes a major hit. In some cases, lenders will not approve you for a home loan or car for several years. When you take a debt consolidation approach, your credit score starts to go up instead of down. It’s a smart way to repair a damaged credit score.

    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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      Credit Counseling
      Credit Counseling

      Credit Counseling – Choosing it over Bankruptcy

      Avoiding Bankruptcy in Retirement

      Bankruptcy lawyers sometimes present bankruptcy as the only way out of a debt problem. In nearly every situation, it’s better to receive credit counseling before even considering damaging your credit score and endangering your lifestyle with bankruptcy.

      According to an article by U.S. News & World Report, a growing number of senior citizens opt for bankruptcy in retirement. In fact, the number of people age 65 or older who filed for bankruptcy tripled between 1991 and 2007 or from about 2 percent up to 7 percent.

      Of course, younger people also have challenges with credit card debt. By meeting with a trained credit counselor through Christian Credit Counselors, you can receive a free debt analysis. You will be under no obligation, but can learn about possible solutions. Before you decide, it’s important to know some of the negative outcomes associated with bankruptcy, especially in certain circumstances.

      When you need a new job

      It’s never a good idea to declare either Chapter 7 or Chapter 13 bankruptcy when you are about to go job hunting. Many employers run a credit check on their employees to see if they are financially responsible. If you plan to work in the banking industry, it’s especially important to have a good credit score.

      When you face repossession

      If you choose Chapter 7 bankruptcy, your are subject to liens against your home and other belongings, depending on where you live. A bankruptcy trustee will sell your non-exempt assets to pay off your debt. While laws protect money you have in personal IRA, 401(k) and other retirement accounts, any inherited retirement accounts are not protected in bankruptcy. If a lender wants to repossess a vehicle, it’s usually better to work out a way to budget for the payments instead of letting it go in a bankruptcy.

      When you want to buy a home or rent

      If you plan to move, you don’t want to have a bankruptcy on your records. Most property manager conduct a credit check. In many cases, a rental application will ask if you have declared bankruptcy. As for buying a home, bankruptcy usually prevents a prospective buyer from receiving a mortgage loan approval.

      Fortunately, you can receive credit counseling instead of going through bankruptcy. Bankruptcy isn’t a cure-all as many debts can’t even be eliminated such as child support, student loans and money owed to the IRS. With credit counseling, you learn how to budget all your obligations. After receiving a budget and debt analysis, you can get started on a Debt Management Plan.

      At Christian Credit Counselors, our team lowers your interest rates and consolidates you debt into one easy to manage payment.

      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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        Credit Counseling

        Finances and Your Financial Future

        Online Credit Counseling

        Living in the US may be an absolute dream come true, but it doesn’t mean that its residents are protected from financial hardships. If you’re a consumer, it doesn’t matter where you live – slipping into debt is much easier than many think. If you’re worried about where you stand, need some help getting prearranged, or are worried about the future – enrolling in free credit counseling can help give you the piece of mind you need. Sure, you can spend hours researching tips and tricks online about how to better manage your finances, but none of this advice is catered to your specific situation.

        Outcome of Credit Counseling

        When taking part in credit counseling services, experienced credit counselors will work with you to decide where you stand, where you’re going, and what to expect. By carefully examining where your money goes each month, you’ll be able to put together a practical budget for your lifestyle. Not only will free consumer credit counseling benefit you now, you’ll get helpful advice that you can put into practice right through your entire life.

        If you’ve already slipped into debt, you may feel absolutely helpless. Even though you may not know where to turn next, there are resources available to people that can help them understand where they stand and give them practical advice about where to go next.

        Debt Management

        Debt management services can not only help you get out of debt but your life will change in many different ways. You’ll better your credit score, end the collection calls, save money on credit card interest, and most importantly – avoid bankruptcy.

        Although the changes you’ll experience are huge, taking the first step isn’t. Enrolling in a debt management program doesn’t put you in a judgmental environment like many debt-stricken consumers fear. Instead, you’ll be working and learning in a safe and accepting environment. Debt management counselors want nothing more than to see you back on the right financial track.

        So whether you’re interested in just better managing your finances or you’d like to end the collection calls once and for all, take the first step to a more secure financial future. Paying off the bills takes money, but the piece of mind you’ll receive after doing so is absolutely priceless.

        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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