Eliminate Christian Credit Card Debts
Financial security begins with one big goal: eliminate Christian credit card debts. There is no more damaging debt than that built up by unsecured loans, such as charge cards. The decision to pay off the balances must be serious and determined. The overwhelming offers of credit provide a deceiving and dangerous message that living in debt is normal and acceptable. Perhaps that has become the norm with the majority of Americans, but it is definitely not all right for children of God. He does not want His children indebted to men who use this position of master over His people. To eliminate credit card debt is to break the shackles of servitude to the wrong master.
The decision to eliminate credit card debts must be followed by action. Companies push their offers into the mailbox, the online inbox, and through pop-up ads. Immediately refuse to consider opening any new accounts, even if the teaser ads are tempting. Tear up paper offers, delete spam mail, and block pop-ups without even reading them. One step to effectively eliminate credit card debts is to break the cycle of opening and using new charge accounts.
Next, stop using the cards that already have balances. If a purchase cannot be made without using credit, the purchase should be delayed. Save cash for the purchase or consider not making the purchase at all. The bottom line is to stop buying on credit. Next, begin a consistent, methodical process of paying off each existing balance. It may be a slow process but, eventually, consumers can eliminate credit card debt this way. Focus on one at a time, and pay off the balance with an accelerated payment plan. Pay more than the minimum payment when possible, or make more than one payment each month.
Finally, if the monthly payments have become overwhelming on the monthly income ratio, consolidate as many accounts into one monthly payment as possible. Search for a company or bank who will work with you toward debt consolidation. The process to eliminate credit card debt is difficult because people develop a habit of using and relying on charge cards and other loans. Their quick and easy use is a deception that will drag the best meaning user into bondage. As children of God, we should eliminate credit card debt to break financial bonds, leaving us able to live a life for God's purposes, not our own gain. "For ye have not received the spirit of bondage again to fear; but ye have received the Spirit of adoption, whereby we cry, Abba, Father." (Romans 8:15)
Credit debt eliminations are a great way to improve a financial rating. One way to pursue credit debt elimination is to receive a loan to pay off debt. Also, the process of consolidation can make it possible to seek relief from financial strain that may be plaguing a consumer. The best option that a consumer can choose is to make payments on time, paying more than the minimum, in order to gradually decrease the amount of money that is owed. Seeking elimination of financial burdens can be a great way to glorify God and obey what He has taught. "The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth" (Psalm 37:21).
Personal loans are one of the many forms of credit debt eliminations available. Many banks and other financial institutions provide personal loans for individuals based on financial ratings or collateral provided by the individual. The amount of the loan may vary depending on the amount the individual needs to put toward the credit debt elimination, the personal financial rating, or the amount of collateral that is provided. Using a personal loan to pay off financial burdens provides one answer to money problems.
Debt consolidation is another good step to take toward credit debt eliminations. With this process, lenders take over any loans or other money owed. The lender will allow the borrower to pay only one monthly payment toward what is owed. Usually, the interest rate available through consolidation is much lower than many accounts and other loans will allow. This is a great way to reduce the amount of money that is owed and work toward credit debt elimination.
One of the best and most effective ways to achieve credit debt eliminations is by simply paying off bills and doing away with all financial accounts that are unnecessary. Credit cards are very easy to receive and can lead to numerous bills if the individual is irresponsible with finances. Making high payments, above the minimum payment and within the financial means of the individual, is a very important part of reaching financial freedom and relieving the strain that is often caused by this situation.
Seeking credit debt elimination is very important for individuals with financial problems. A personal loan is one effective way to eliminate financial strain. Another possibility is the consolidation of loans and other payments, available through many banks and lenders. One of the best ways to eliminate monetary issues from accounts or loans is to make the maximum payment possible on all payments and do away with cards or other unnecessary forms of credit that provide easy spending access.
How For Christians To Fix Bad CreditHow to fix bad credit is a question many people want answered because of the problems and trouble that poor financial reports can cause. Many people have made poor choices when they were younger and these decisions affected their financial history. Now they are in a position where they want a mortgage or a car loan and their record shows a poor rating. There are a number of places where a person can receive advice on how to fix your credit report. Consumers will want to be careful of some of these organizations. They can choose non-profit organizations that will explain how to fix problems by suggesting consolidation or repayment options. Some places that are for profit will charge for services or advice. These companies may just put the individual further into debt.
One suggestion for how to fix bad credit is to get a copy of the record from one of the three agencies. If there are inaccuracies or discrepancies, the individual should immediately contact the creditor and get it cleared. It is crucial to look over the report to see if there is any outstanding debt that needs to be paid off. Another suggestion for how to fix your credit report is to maintain a current residence and occupation. When the individual makes too many changes in a short amount of time, they could appear unstable. Another way to keep ratings high and reports accurate is to pay bills on time. This may sound obvious, but when trying to find methods of how to fix your credit report, the individual will not want to pay bills even one or two days late. Late payments show a bit of irresponsible behavior on the part of the consumer, even if the payment is only somewhat late. Sending timely payments or even early payments will make it much easier to receive better ratings and scores to fix negative records.
Taking the time to open a few lines of credit may be helpful for the consumer wishing to understand how to fix bad credit. This can be something that has the potential to make or break the individual. Having reasonably low limit lines created for purchases that will be immediately repaid can be a way to show responsibility. This method can backfire on the individual, though, in the event that the consumer does not get the accounts paid off as they had originally planned. In this case, the debt owed will be more and the individual will have an even lower score or rating. Understanding how to fix bad credit can be tricky, but the proper guidance and knowledge on the subject will allow anyone to repair negative financial matters. "Fools make a mock at sin: but among the righteous there is favour." (Proverbs 14:9)
Credit counseling could be an excellent step for people who are deep in debt and on the verge of filing for bankruptcy. Obtaining accounts and other forms of unsecured debt is so easy and, unfortunately, too many people do not know how to handle such responsibility wisely. As a result, people without sound financial management skills end up drowning in debt. This affects their lives in profoundly negative ways. Seeking help from an advisor or through credit consolidation can help ease the anxiety and the frustration.
Financial advisors can act as a mediator or sorts between the consumer and creditors. As they work on the individuals credit consolidation efforts, they can negotiate lower interest rates and, in some cases, even lower the overall balance due. The credit counseling service will help a person establish a savings account that will allow the individual to deposit money on a weekly basis. The counseling service then uses those funds to pay off debts. Depending on the overall balance of what is owed and the amount the consumer is able to contribute toward paying off that balance, the length of the payment plan may be several years. It is important to keep in mind that debt consolidation is not a quick fix.
During the repayment process, the consumer should not use cards or apply for any additional funding. This part of the credit counseling may be the most difficult part. However, it may also be the most important. For many people, poor money management and impulsive buying are the key behaviors that brought them to need consolidation in the first place. Recognizing and modifying those bad habits is what will create long-lasting change.
Although the benefits of pursuing assistance are many, the consumer should know that there are potentially negative consequences too. For example, although the credit counseling service will probably not report prior delinquencies to the credit bureaus, the creditors that are negotiated with can report that the individual is not paying according to the originally agreed upon terms. This will adversely affect a persons financial rating or score. However, if debts are so high and unmanageable that the individual is seeking credit consolidation and counseling services, their credit score is probably already low. Working with a counseling service is still a better option than filing for bankruptcy.
Above all, it is important to remember that God expects the actions of His children to honor Him. This includes how Christians spend the money he has entrusted to them. It is important to repent, if necessary, and commit finances to His will. A person can prayerfully consider all of options, including credit consolidation and counseling, and proceed with faith. "But thou shalt remember the LORD thy God: for it is he that giveth thee power to get wealth, that he may establish his covenant which he sware unto thy fathers, as it is this day," (Deuteronomy 8:18)