The New Face of Debt Consolidation: Christian Debt Consolidators
While debt consolidation has been around for a long time, there is a new face in the world of debt consolidation — Christian debt consolidators. They bring a new approach to an old problem. What you get if you go with one of these companies (and you don’t have to be a Christian to use them) is a more grounded approach to solving your short-term and long-term debt issues. They will work with you to consolidate the debt, following your lead about how to fix the problem. There are three main ways to beat your debt load.
First, do your homework. Don’t just automatically go with a debit consolidation company because they say they are a Christian company. In fact, really think about your options. Do you need a consolidator to help you? Can you do this on your own? You will want to understand the fee structure that the company is offering. Christian debt counselors or not, they still have to make money and they make money off of you. What you need to know is how much money. You may decide that non-profit consolidators are the way to go, based on the fees and solutions offered. After you have done your homework, sleep on the decision. You have carried this debt for how long? It can wait another night or two. Do not jump into a plan without knowing the facts. Christian debt relief companies can have fast-talking salesmen, too, so don’t allow yourself to be pressured into signing before you are ready.
Once you have a plan laid out in front of you, stick to it. Do not go off the path and either spend money that is ear-marked for debt reduction or start racking up new debt. While you are on this plan, you don’t need to be buying new clothes or eating out for lunch every day. Getting out of debt is about facing the consequences of your own actions. Christian debt counselors should be helping you learn to manage your money in new ways. The old ways are obviously not working for you and you need new habits and beliefs to replace the old, dysfunctional ways. Your plan is only going to work if you follow it and make new habits.
The last part of the process is to internalize the methods of money management. Paying off the debt will feel so great, but don’t make the mistake of thinking that you have solved your debt problem. Debt is a symptom of poor money management, not the cause of it! If you can learn to draw up a budget and stick to it, you will be learning the core of money management. It is not about making more money. It is about being wise with the money you have. Some studies have shown that three quarters of the people who go through a debt consolidation company end up back in debt within a decade. That’s a statistic to make to you sit up. Any consolidation company — Christian or otherwise — can only show you how to live a better financial life. They can show you the road. You have to walk it.
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