Any one of us can get into serious debt and anyone this happens to will always want the same thing - to get rid of it. For most Christian people that this happens to, they want to find a way to deal with the problem that is consistent with their Christian beliefs. In some cases this means finding an organisation to help deal with the problem that is grounded in the same Christian values as they are, and in other cases it simply means finding an organisation whose approach does not conflict with the values of their faith.
The most important thing is to have a good understanding of the debt solutions that are available to you and then you are in a position to decide whether they are acceptable in relation to your Christian beliefs. Clearly you need to be aware of any practices that may be deemed to be unethical or against the teachings of Jesus Christ.
I would first of all like to outline the main debt solutions and how they work, in order to make the processes and practices clear. This will allow you to make a judgement about whether they can be considered as appropriate Christian Debt solutions.
Debt management is a very common debt solution and is based on finding ways to repay everything that you owe. This is likely to be the least problematic option in terms any ethical issues. The main principle is that you use a debt management company to negotiate with your creditors to set up new arrangements for repaying your debts. This is likely to involve getting agreement to reduce interest charges and perhaps even write off any penalties or late payment charges.
When this process is complete, you stop paying your creditors and just make one single payment to the company providing the debt solution. This new amount will be less than the total you were previously paying for all your separate debts, and you have the added benefit of only having to remember one single payment. In addition to this, your creditors will have to deal with the debt company instead of you if they have any issues or concerns.
The other main option for consideration as a Christian debt solution is debt settlement. This is widespread as an established practice in the US, though in the UK you would have to look at an IVA as the nearest equivalent. With debt settlement the main idea is to try to get agreement from creditors to accept a much reduced payment in settlement of your debts. The aim is to try to settle debts for no more than half of the full value, making it more possible to repay the remainder. Whether this is acceptable as far as Christian debt solutions go is something that each individual must consider for themselves.
Whichever type of Christian debt solution you are interested in, you should seek free advice from a reliable specialist company before deciding on a definite course of action. Apply to a few different ones and get proposals before committing, which will also give you the opportunity of assessing the nature of the individuals you will be dealing with.
The most important thing is to have a good understanding of the debt solutions that are available to you and then you are in a position to decide whether they are acceptable in relation to your Christian beliefs. Clearly you need to be aware of any practices that may be deemed to be unethical or against the teachings of Jesus Christ.
I would first of all like to outline the main debt solutions and how they work, in order to make the processes and practices clear. This will allow you to make a judgement about whether they can be considered as appropriate Christian Debt solutions.
Debt management is a very common debt solution and is based on finding ways to repay everything that you owe. This is likely to be the least problematic option in terms any ethical issues. The main principle is that you use a debt management company to negotiate with your creditors to set up new arrangements for repaying your debts. This is likely to involve getting agreement to reduce interest charges and perhaps even write off any penalties or late payment charges.
When this process is complete, you stop paying your creditors and just make one single payment to the company providing the debt solution. This new amount will be less than the total you were previously paying for all your separate debts, and you have the added benefit of only having to remember one single payment. In addition to this, your creditors will have to deal with the debt company instead of you if they have any issues or concerns.
The other main option for consideration as a Christian debt solution is debt settlement. This is widespread as an established practice in the US, though in the UK you would have to look at an IVA as the nearest equivalent. With debt settlement the main idea is to try to get agreement from creditors to accept a much reduced payment in settlement of your debts. The aim is to try to settle debts for no more than half of the full value, making it more possible to repay the remainder. Whether this is acceptable as far as Christian debt solutions go is something that each individual must consider for themselves.
Whichever type of Christian debt solution you are interested in, you should seek free advice from a reliable specialist company before deciding on a definite course of action. Apply to a few different ones and get proposals before committing, which will also give you the opportunity of assessing the nature of the individuals you will be dealing with.