Christian Credit Card Debt Forgiveness

Christian credit card debt forgiveness, without the use of bankruptcy or settlement negotiation, is a claim that can only be validated if one has gone through the specific requirements laid forth in the advertisements of company's that provide such services. According to debt forgiveness sources, the NESARA or National Economic Security and Reformation Act, there is a law on the books that when announced immediately improves a debtor's financial situation. NESARA is said to provide debt erasing, mortgage relief, and other bank debt as a remedy for bank and government frauds. NESARA is also said to restore constitutional law. There are teams of people trying to get the announcements out all over the country and are enlisting the help of all American citizens.

The NESARA Team has made it the mission to take part, through love and compassion, to bring positive solutions to those that need due balances erased. They realize and openly welcome the power of the National Economic Security and Reformation Act and are determined to announce to the public the principles that it represents. The NESARA team needs members who will announce and implement the new NESARA law. Once the law is announced to the public, the banks and other interest charging financial institutions will have to close out debts with a zero balance. Supposedly the government has agreed to pay up to $9000 per card to each financial institution. That means total credit card debt forgiveness for most citizens.

While this might seem like a dream come true, it is important to note the moral implications of such a reformation. We are all abhorred by the charges of interest the general public must agree to in order to receive credit. We are also aware that credit is a mandatory part of society. In order to rent an apartment or own a vehicle most people must rely on credit. With necessary items (such as a home and a car) costing more than a person can hope to save up for, without the help of wealthy family and friends, it is no wonder the offering of credit seemed like a much needed plan, and the opportunity of credit card debt forgiveness an even better one. However, with every seemingly good plan comes the possibility of disaster, which is where Americans find themselves today, by grasping onto the latter idea of erasing balances with all their might.

As Christians we are supposed to trust in God to provide our needs. We do make mistakes, and God is just to forgive those mistakes if we repent. "Thou hast forgiven the iniquity of thy people, thou hast covered all their sin. Selah" (Psalm 85:2). As Christians, when we utilized credit for our needs and wants, we made a commitment and a promise to pay it back. A debt is a promise to pay. We are bound by our word. Bad things happen to good people, but if when disaster strikes, we listen and follow God's leading, He knows what is best for us. God will give us the ability to pay off our debt, or we will learn many lessons in the process that may prohibit us from receiving credit in the future. As Christians, we have a moral responsibility to pay what we knowingly owe to our creditors, leaving the option of credit card debt forgiveness no longer an option.

Credit card debt reduction helps consumers alleviate some of their overdue balances by either working on their own or through a professional to negotiate bills and other financial responsibilities, so they may be smaller and paid off in a reasonable amount of time. Accounting for at least half of all household bills through unsecured loans, a growing need for financial advice and direction is amplified by escalating personal bankruptcy. Many consumers who find themselves trapped by high interest loans need a solution. The instant gratification offered by plastic cash has destroyed the financial stability of many households through lack of financial discipline, causing a severe need for help. Through credit card debt reductions, a consumer can find the way back to financial security if he or she commits to the process.

With 40% of American households spending more than they earn, financial counseling is especially needed. The call for credit card debt reductions is pronounced by consumers who use charge cards for everyday expendable items such as gas, groceries, beauty products, and lawn care essentials. Before it is realized, a huge credit card bill is amassed with no real assets to show for it requiring an emergency need for credit card debt reduction. A wise rule of thumb for charging is to only use charge cards if the balance is to be paid off at the end of the month. Also, use charged purchases for important items that have some lingering value. These simple tips can minimize balances and reduce the need for financial services.

Depending on how many bills, how they accrued, earning ability to repay and assets available, at least one of several options can be applied to the balances. If charge card bills have reached unmanageable proportions and creditors threaten to crush a consumer through bankruptcy or collection suits, settlement might be the best credit card debt reductions option. Through arbitration, a negotiation company can settle the amounts due for pennies on the dollar on behalf of the consumer. All parties are legally satisfied, although the consumer will sustain a damaged credit rating. Credit card debt reduction can also be accomplished for those whose bills are not as serious. Consolidation is another financial avenue available to help reduce bills.

Debt consolidation companies, law firms, and counseling agencies offer somewhat differing financial services through varying interest rates, assets available, particulars of a consumer's financial history and the earning ability to repay the consolidation loan. The specific loan offered also depends on how many bills a consumer has. Credit card debt reduction is available to those who can viably repay the loan or produce collateral to cover it if defaulted. If a debtor is interested in the many avenues of credit card debt reductions, they should check several Internet sources for the most effective option. It is possible to become debt free with the right program. "The LORD will give strength unto his people; the LORD will bless his people with peace" (Psalm 29:11).

Christian Credit Card Debt Negotiating

Credit card debt negotiating seems to be a hot topic among American consumers because of the high percentage of unsecured loans. Some programs can assist people who have high debt/income ratios and who have lost their jobs or have financial catastrophes, such as medical and/or personal emergencies. Many consumers become insolvent, meaning they have inadequate income to pay all their bills. Credit card debt negotiation is an alternative to debt consolidation and bankruptcy. These companies specialize in compromising over interest rates and/or monthly payments with the lender on behalf of the consumer.

Almost half (48 percent) of Americans hold a significant amount of unsecured loans, therefore awareness of how to deal with this problem has increased drastically over the last decade. Over the last year and a half, a third of these people have done nothing to reduce their debt. Many consumers are only able to pay the minimum payment each month and do nothing to cut back on expenditures. Many of these people will resort to bankruptcy. Consumers should use caution when considering a credit card debt negotiation program. Before enrolling, research the company and become thoroughly familiar with their practices. The consumer pays the credit card debt negotiating company a monthly sum in accordance with the agreed amount. Then the company works to bargain a settlement amount, which can be from one-half to three-quarters of the original amount owed.

Many companies guarantee that by using their credit card debt negotiation program, consumers can avoid bankruptcy and wipe out what they owe much sooner than if continuing on their own. What they don't mention is that instead of paying the creditors directly, the once-monthly payment will go to the company. As a result, the credit card accounts will default and a borrower's credit rating will suffer. To qualify for most programs, a borrower must have a minimum of $5000 in loans. Other criteria include facing bankruptcy or having been denied funding for an automobile or home. Qualified loans include medical bills, department store cards, personal unsecured loans, closed utility bills, and repossessions. There are a number of non-profit companies that specialize in this process. It is important to work with a company that provides financial counseling with an emphasis on remaining debt free once the consumer completes the program. Remember, "The rich rules over the poor, and the borrower is the servant to the lender" (Proverbs 22:7). Becoming debt-free is a healthy goal and credit card debt negotiating can be a viable solution.

A credit card debt solution company is available through the Internet or a local phone book. The services offered do not vary much from one provider to another. The first decision to make is choosing a provider for face-to-face service or for anonymity through an Internet. Credit card debt solutions are currently being offered by credit card companies themselves. Their keen competition for the consumer's dollar keeps them offering ever lower interest rates if the individual chooses to consolidate all loans with one service. Although this may sound like a good option, this choice must be considered with caution. The individual interested in this service needs to be certain that low interest rates do not end long before the debt is paid off, resulting in much higher rates in the final months or years of the repayment plan.

Most counseling companies offer a credit card debt solution in the form of a consolidation of the unsecured debt into one account. Along with consolidation, negotiation is used to receive lower interest rates. Sometimes credit card debt solutions can be achieved through negotiating the principal as well, but that isn't as common. After an account is set up, the debtor sends a monthly payment to the counselor for distribution to creditors. The end result should be a lower payment and total that is less than the debtor started out with. Of course, one of the conditions of this solution is that the consumer must give up all of his or her credit cards so the same pattern of financial strain is not repeated. There are many of these counselors who are offering credit card debt solutions, and many are non-profit organizations requiring no fee to be paid by the consumer.

Home equity loans are sometimes used as a means of credit card debt solutions. If a homeowner has substantial equity in a home, they have the option to use that equity for a loan to pay off bills and expenses. In the event that the individual chooses to sell the home before repayment is complete, the amount left to be repaid will be deducted from the proceeds from the sale of the home. A second mortgage has a similar result. Sometimes the only credit card debt solution is bankruptcy, but that is much harder under the most recent changes in bankruptcy laws. Also, this option leaves the Christian with a bad financial rating for years. Counseling services are available from many different organizations and companies that work with financial situations. Seeking financial advice after reaching a credit card debt solution can help a debtor establish a budget, a savings plan, and a brighter future where further assistance and counseling will never again be necessary. Choosing the best options for help in financial matters and making good decisions will rely on wisdom offered by God. "For the LORD giveth wisdom: out of his mouth cometh knowledge and understanding" (Proverbs 2:6).

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