Christian Debt Consolidation Loans - What are They and What Makes Them 'Christian'?

Christian debt consolidation loans are based on the Biblical view that managing finances appropriately is a responsibility given by God. They work to help you in your quest to take responsibility and be financially free. If you look into Christian debt consolidation and find the company you are talking to is just as apt to ruin you as your original debtors- they aren't a true Christian company. Find another one.

With that said, here is an overview of what a debt consolidation loan can do for you:

If you have outstanding debt that just gets worse due to high interest rates and the inability to pay, you may be considering bankruptcy. If you have been unable to settle with your creditors because even the deals they offer aren't within your payable range, a debt consolidation loan could be the answer to your prayers.

Christian debt consolidation loans provide you with financial advice and services that will take down your interest rate and let you pay one monthly payment to them. They do this by negotiating settlements with your debtors and "loaning" you the money to pay them off.
 
So how does Christian debt consolidation do this?

Here is how it works:
Your counselor will get in touch with each of your creditors and negotiate for a lower interest rate and a lower amount of debt. They will then pay off your debt and hold the loan.

They will then take the lowest interest that is paid on any of your debts. For example, your interest rate on two of your loans is 10% or more, but there is a loan that now carries an interest rate of 7%.

Your consolidated loan will be at an interest rate of 7% on a lower amount of debt. Your payments will be lower because you will have less debt at a lower interest rate PLUS you will make one payment a month instead of 3 - 10.

Because they are able to lower your interest rates and in some cases, even lower the amount owed for your loans, debt consolidation charges you a certain amount - though you will still be better off than you were. They are not charity. Even non-profits profit enough to pay their employees and bills.

While you probably won't be astounded by the miracle of debt relief by having your loans consolidated, your loan amount will be significantly decreased and your payments will be easier to handle. That alone makes it a better alternative than bankruptcy. Just knowing you have a handle on what was a runaway problem will help you sleep easier.