Christian Debt Counseling Services Can Trap You: How to Avoid Them
If you have considered Christian debt counseling services as the answer to your financial woes, you may have done so specifically because of the assumption that a so-called “Christian” company will automatically offer lower, or no, fees, be fair, and be legitimate.
This is not the case, though there are several good christian debt companies, there are also several bad ones. The bad ones are often headed by dishonest men who are just looking to make a quick buck. In doing so the abuse the faith so many put in the word christian as well as the hard financial & emotional situation you are in.
There are a range of bad companies. Some of them are just that, bad companies who charge you a fee each month, but don’t really do anything for you. Others charge you upfront and don’t do anything for you and you leave them in the same position or worse off. But there are some companies that really prey on people in a bad financial spot. Being deep in debt is also every emotionally challenging and often we throw caution to the wind hoping that someone or anything will get us out of this mess. But be wary because there are companies out there that are down right illegal and will scam you right out of thousands of dollars doing absolutely nothing for you.
Be careful in choosing a debt relief company. First, you need to understand that they can’t do anything for you that you can’t do yourself (like negotiating down your rates or payoff amount). Second, even though they promise to stop hassling phone calls, you are the one ultimately responsible for the debt and therefor the creditors are still going to call you (you can then refer your creditors to the company you have given power to act in your behalf to). Third, anybody can promise anything. Several debt settlement companies promise no hassle, no more heartache, and that you will be out of debt in a few years. These things are entirely within your control and nobody can change these things but you. They also promise things like, negotiating your debt down with your creditors and getting your rates down. These things are up to your creditor, not them. When you go to choose a debt settlement company, go with someone who is rated well by the Better Business Bureau, or get a referral from someone you know. Do not sign any contracts that hold you to a long term agreement, and DO NOT give them electronic access to your bank account so you can stop at anytime if they don’t fulfill their end of the bargain. And definitely don’t give them large sums of money up front. It doesn’t take $1000 to set up any account.
Knowing what to avoid and how to search for a good company will give you the leg up that you need to really find a good company for your debt counseling needs.
C. Arnold is an professional at budgeting and debt consolidation. To learn more about Christian Debt Counseling.
