Can Christian Debt Consolidation Work for Me?

Individuals who find themselves in financial trouble often consider working with a debt consolidation company. Such companies assist consumers in a variety of ways, the most common of which is negotiating with one’s creditors to come up with a realistic payment plan. Worthwhile companies also will educate and counsel you about your finances.

“Christian” debt consolidation companies are part of a larger sector of these organizations that describe themselves as “non-profit”. In order to determine whether or not Christian debt consolidation is your best option, it first is necessary to understand exactly what it means for a debt consolidation company to be “non-profit”.

Non-Profit Debt Consolidation

For the overwhelming majority of non-profit debt consolidation companies, non-profit does not mean “charity”. Rather, it is a technical status that refers to a 501 organization, or a group that can list its expenses as exemptions on taxes. While many such companies may truly have their clients’ interests above their own, this does not mean that services will be cheap or even priced affordably.

In essence, consumers may or may not find substantial differences between a non-profit company and a for-profit company, and there are no hard and fast rules that separate the two. Rather than focus one’s attention on either label then, it generally is a better idea to consider a company’s services and costs in and of themselves, regardless of “for-profit” or “non-profit” status.

Unfortunately, as can be expected, not all companies that call themselves “non-profit” actually will work with your best interests in mind. There are many scams in the financial market of which one must be aware, and companies who call themselves “non-profit” just to trick uninformed consumers into working with them is one such scam.

Christian Debt Consolidation

Debt consolidation companies that call themselves “Christian” should be considered similarly. When it comes to breaking down legitimate companies versus illegitimate, and affordable very unaffordable, there is no real distinction between Christian and “non-Christian” debt consolidation companies.

If you are considering Christian debt consolidation, then you must consider companies’ services and costs without allowing yourself to be won over by a title. Companies who call themselves Christian really may strive to combine finances with faith, but good intentions do not necessarily mean that such organizations are the best alternative for you.

Take an objective look at how companies in which you are interested do business. You may find that beyond a company’s name, there really are no differences between a Christian company and others.

If you are interested in working with a Christian debt consolidation company, then it would be wise to ask your local church or members of the clergy for recommendations, and also to check with the Better Business Bureau for customer complaints.

Just as there are companies that have your best interest in mind, there also are many companies that will try to win your business and trust by arbitrarily attaching “Christian” to their names. If you do not have firsthand knowledge of a company, then there is absolutely no reason to trust a company that calls itself “Christian” any more than you would another company at first glance.

Christian Debt Consolidation Scams

Sometimes a name is only a name. From a marketing perspective, adding “Christian” to the name of a company helps to add a sense of legitimacy, and you may put more of your confidence into a company than you would otherwise. Unfortunately, the market shows us that some companies understand this tactic and exploit it.

There are many companies that call themselves “Christian” just to get your business. In such circumstances, it should be intuitive that these companies are not working with your best interests in mind. In fact, there even are some “Christian” companies that previously have gone by other names with no mention of religious affiliations!

Do not just accept that a debt consolidation company is the best for you because of its Christian label. All trustworthy companies should be able should be able to prove their legitimacy through their services and fees. Companies who call themselves “Christian” without providing you with real facts and figures should be avoided completely.

If any company calls you unsolicited and claims to be from a Christian debt consolidation company (or any debt consolidation company for that matter), then this almost certainly is a scam. Reputable companies will not call you out of the blue. Do not fall into the trap that they want you to fall into by focusing on the term “Christian”.

Other Religious Financial Help

While legitimate Christian debt consolidation companies may or may not offer you better options than their “non-Christian” counterparts, this does not mean that religiously-based organizations are not a worthwhile place for you to turn with your financial troubles. Outside the realm of debt consolidation companies, churches and other places of worship can be great sources for financial assistance.

For example, there are many local religious organizations that will extend loans to debtors at much better rates than banks. Such sources usually are funded by grants and private investors, which gives them the ability to assist consumers in a truly non-profit manner. (By the way, the use of such third-party funds is a good sign that non-profit debt consolidation companies are who they say they are.)

Conclusion

If you have found a Christian debt consolidation company that comes recommended to you, that is local and reputable, that offers the services you need, and that you are certain will help you with your finances for an affordable rate, then you may have found the best company with which to work.

If you are just considering debt consolidation, however, and have some interest in Christian companies, then it would be in your best interest not to concern yourself too much with labels. Just as all companies can be either legitimate or illegitimate, the same goes for “non-profit” and “Christian” organizations. And at worst, companies may use such labels to win you over prematurely.

In fact, you even may want consider seeking help from a counselor certified by the National Foundation for Credit Counseling in addition to considering debt management companies. Services from such counselors are reliably non-profit. You can find more information on credit counseling here.

In any case, the main thing to remember when searching for financial relief is to know all that you can about a company before entrusting them with your financial livelihood – “Christian” or otherwise. For more in-depth information on what to look for in a debt management company, visit this article.