Wednesday, June 20, 2012

Christian debt consolidation: Is it helpful to get you out of debt ...

The debt consolidation industry is mired with bad eggs. It is one of the most notorious financial industries in the country. The Federal Trade Commission and the Consumer Financial Protection Bureau are coming up ways to mitigate the problem and annihilate it altogether. People with bad debt usually become short sighted in order to get out of debt. These debtors fall for scams floated by these spurious debt consolidation companies.

However, alls not lost yet. There are some debt relief companies that are burning the midnight oil to rescue people from the troubles of bad debt. These are Christian debt consolidation companies with a non-profit status. The motto of these companies is based on Christian theology, i.e. Bible. According to Bible, people should shed off their entire financial obligation before standing in front of GOD for prayers. This will help them to pray with full dedication and concentration.

In addition to the above heavenly benefit, there are some worldly benefits as well.

Benefits of Christian debt consolidation program

The benefits of Christian debt consolidation programs are as follows:

A. Service ? Debt consolidation programs offered by Christian debt consolidation companies are at par with other for-profit debt relief companies. They have the same level of expertise (in matters related to personal financial management and local debt laws) and professional approach towards their consumers.

Your main aim is to get enrolled into one such program that will help you to get out of debt. In this program, you?ll come across people who are honest with a high professional caliber. Therefore, opting for debt consolidation programs from these non-profit debt relief organizations will surely be a sensible choice.

B. Perspective ? Most of the debt consolidation companies operate to take advantage of miserable people who are buried deep under the burden of debt. However, debt consolidation programs offered by Christian debt consolidation companies are much better. This is because these programs are designed keeping the word of GOD in mind.

People enrolled in these programs realize the true worth of sensible financial management and the duty towards God. People become more conscious financially and refrain from futile expenses. People begin to feel more connected with their other fellow beings and develop better bonding amongst each other.

C. Affordability ? Christian debt consolidation companies are financed by charity funds. This is why their services come at such an affordable rate. This is another big advantage of enrolling for debt consolidation programs offered by Christian debt consolidation companies.
However, there are some organizations that are using the name ?Christian debt consolidation? and showing ?non-profit? status to lure debtors into enrolling in their debt consolidation programs. Read along to know the doubtful practices of treacherous Christian debt consolidation companies mentioned below:

a) These illicit debt consolidation companies ask for upfront fees (without rendering any debt relief service) and do not give a proper explanation regarding their fees structure.

b) These companies make use of non-profit status to dupe people to opt for their programs. Actually these companies operate like for-profit organizations or have affiliation with for-profit debt consolidation companies.

Therefore, people should not blindly follow those attractive advertisements promising them debt help and take remedial steps if they have been scammed.

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