The credit cards were flexible and easy to use for your everyday expenses. However, over the course of time your rates and fess started to gradually increase. Needless to say , due to circumstances beyond your control you find yourself drowning in debt.

Do you have more than $5000 in debt on more than 3 credit cards? Understanding how you got into this problem and finding ways to resolve the problem is the first step in giving you – your start to financial freedom.
You first want to consider your options carefully to dig yourself out of debt.

A debt settlement company is an option to consider. An experienced debt settlement company has the resources and the ability to negotiate on your behalf. The consumer needs to faithfully follow the plan that the settlement company has placed into action. The financial plan may take as little as 12 months or more than 48 months on your outstanding unsecured debt.

It may be tough in the beginning to make those sacrifices but once you follow and complete the debt settlement program you can begin your journey to financial independence and starting letting your money work for you.

“A budget is just a method of worrying before you spend money, as well afterward” .Anonymous
The major question, you need to ask yourself can I work within a structured budget to get me out of my financial mess? If the answer is yes, then a debt settlement program may be right for you at this time. Because you have taken the first step in understanding you situation and tackling it head-on.
By using a debt settlement program, you will be to stop the endless cycle of making only the minimum monthly payments on your credit cards and making no headway on your balances. This program has you saving a percent or set amount each month and as that balance grows, it allows the settlement process to being.
Here is an example:
Account Current Balance Balance at Settlement Amount Settled For Settlement %
Creditor A $ 2,500 $ 2,750 $ 1,350 49%
Creditor B $ 4,000 $ 4,500 $ 2,250 50%
Creditor C $ 8,000 $ 8,500 $ 3,350 40%

Total $14,500 $15,750 $ 4,950 31%

As you can see from the chart, you could be able to settlement for almost half of your outstanding credit card balance. You need to ask yourself, how long would it take to off of my credit cards by myself? If you make only the monthly minimum, you a basically paying only interest and very little principal. So it could take you more than 8 years to paid off your debt verses using a debt settlement program.
As any example, if your current monthly minimum payment are at $750 and this is a struggle but you could pay $450 a month. Then it would take approximately 12 months to become debt free using a debt settlement program. Does that see too easy. Will it’s not! It will require a stead fast need to save and control your current spending. But by choosing a debt settlement program, you will be free of the constant worry of how do I pay my bills on time and get myself out of debt.
The time is now to chose a debt settlement for yourself and your family. You have already taken the first step now take the second and call.

Know The Statute Of Limitations In Your State Before Paying Off Old Bills

A bill collector only has a certain time period to sue you for non-payment of a debt. The first thing that you need to do is to check the statute of limitations for the particular debt that you are concerned about. If the debt is older than the statute of limitations for collecting a debt in your state, just tell them that they are wasting their time and you do not have to pay them. You need to check with your state to see what the time limits are in your state. Usually after 7 years they cannot collect legally anymore. Any negative marks that are on your credit bureau should be removed. If the debt does not show on your credit report and you are past the statute of limitations, you are home free. Just mention the FTC.

Christian Debt Negotiation Only Works For Some Types Of Debt

Debt negotiation is mostly for unsecured debts such as medical bills, personal loans, bad checks, hospital bills and credit cards. If you stop paying your mortgage or car payment, the creditor will probably foreclose on your home, or repossess your car, whatever the case may be. With unsecured debt, there is nothing to take from you – except maybe cash. If you are interested in more debt negotiation information see GetPreQualified.com’s section on Debt Negotiation.

Who Do You Report A Creditor To That Is Abusive?

If you feel that a creditor or collection company is going to far you should contact your local Attorney General to file a complaint.  You may also want to send a written correspondence to the creditor alterting them to cease and desist and communications at your work and that you have contact the proper authority to file a complaint agaisnt them.

A collection agency is not allowed to use threats of violence or profanity when communicating with you.  They are not allowed to make statements that they don’t intend on following through on, this would include sending fake documents to try and scare you.  A creditor is not allowed to call at all hours of the night.  They can only call you from 9am to 9pm.  If you feel violated in any of these areas you should file a complaint.  Not paying your bills is bad enough with the tormet some debt collectors can deliver.

What is the Best place to consoladate my Christian Debt?

You may want to try other methods before you sign up with a Christian Debt Agency for help.  I would call your credit card company directly and see if they will lower your interest rates.  You have nothing to loose by trying.  Many large banks can be a great source of help as well.  You may want to check on line at bankrate.com to see what offers there are.  You just might even try walking into your local bank and see if they can help you.  Many banks offer debt consoladation programs.  Typically bank debt management plans have no monthly fees like a consumer credit counseling program would.  The last option might just be to go to Google and type somehting into the search engine and see what comes back.

Before signing up with any debt management company be sure to check them out.  Call the BBB or even the local Attorney General in your state.

We live in a world full of frauds and liars, and some of these debt counseling companies just are not who they say they are. It takes a bit of research to ensure you’re not being taken, but any time you put into researching the process will be well worth the time.

Is Christian Consumer Credit Counseling Right For Me?

CCCS or Christian Consumer Credit Counseling should only be used if you barely cover the minimums on all of your credit cards.  If your credit is still good and have too much debt to where you haven’t been taking any ground in paying it down you may be a good candidate for a credit counseling plan. If after talking to a credit counselor about a plan and they suggest that it will take you longer than 5 years on a plan to pay off your debt you might be a better candidate for bankruptcy. To file bankruptcy you will need to speak with a bankruptcy lawyer.

Consumer Credit Counselors – What Questions to Ask Them

If you have decided to go with debt management company, be very careful about whom you choose to sign up with. The choice you make is going to be with you for a very long time. Be sure to research thoroughly any company by checking with the BBB or Better Business Bureau and by doing a Google search. Be mindful of what comes up in the organic search results

Some of the more common warning signs of a less-than-reputable CCCS providers include:

* Large Fees. You’ll find that Consumer Credit Counseling Services (actual affiliates of the not-for-profit National Foundation for Credit Counseling) usually charge a whopping $10 as a set-up fee. There are private, for-profit services that charge more but are also reputable and effective. Any company asking you for thousands of dollars up front, though, is an entity you want nothing to do with.

* All Talk. If the company you’re considering says it can settle your debt for pennies on the dollar without hurting your credit rating, run don’t walk to the next company on your list. Any reputable company will acknowledge that their power to negotiate a lower interest rate (not a near elimination of the sum of your debt) is its key selling point, and that it cannot control the effect of the counseling on your credit rating.

* Lack of Payments Made. Some companies will take your first payment and keep it as their fee instead of paying off your creditors. Be sure to speak up front if the counselor you’re considering is going to pull one of these moves, because it can – of course – damage your credit even further if your creditors don’t receive the first payment under the new program on time.

* No Statements. If they give you  statements, something’s wrong.

* Lack of Proper Accreditation. If a company says it’s not-for-profit, an affiliation with the Association of Independent Consumer Credit Counseling Agencies or the National Foundation for Credit Counseling is a must. If you have any doubts whether the supposed not-for-profit counselor you’re considering is an affiliate, make them show you their accredidation.

Debt Management Programs are not for everyone. Do your homework up front to avoid problems later on down the road.

Christian Debt Consolidation or Traditional Debt Consolidation?

As with any financial service, I would do my homework on the company to find out how they operate.  Are they a legitimate business that takes care of it’s customers.  Call the local BBB or Better Business Bureau.  You just want to Google the company and see what comes up about them in the search engines.  The Rip Off Report is a great website to look at.  Consumers can report rip offs or just plain bad service.

I would make signing up with a Christian Debt Consolidation Program my last resort.  Call your creditors to see if they will work something out with you.  Maybe they will lower their credit card interest rates or even extend longer terms.  You have nothing to loose by calling and asking.