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Christian Debt Consolidation
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Getting A Handle on Your Debt
The first thing you need to do is get a handle on your spending. Credit cards are a marvelous thing when you are shopping but the bill always comes due. So to work your way out of this situation you need to begin buy curtailing your spending habits.
- Take all credit cards out of your purse or wallet, except one major credit card for emergencies only.
- Begin to carry only cash or a debit card that comes directly out of your bank account.
- Keep a spending diary. Write down every time you spend money, even if it seems like an insignificant amount.
Consider Consolidating Your Credit Cards
You may want to consider consolidating your higher interest rate credit cards to one lower rate card. Many credit card companies offer a very low interest rate for balance transfers. This will allow more of your payment to go directly to your debt, and less to interest amount.
- Call your credit card companies and see what offers they have for balance transfers.
- If they have a good interest rate offer, ask that your credit limit be raised as high as possible.
- Have them mail you convenience checks so that you can payoff all the high interest rate credit cards you have.
Home Equity Lines of Credit
If your credit is not to far-gone, meaning debt collectors are not calling you daily, you might want to consider taking out a home equity line of credit.
For Christian homeowners that are in considerable debt, this is a very good option. Your bank will use the equity of your home and give you a credit line. When you go to the bank you will need the following information:
- Income tax returns for all owners of the home for the past two years.
- Copies of your paycheck stubs for the last month.
- Proof of insurance on your home as well as proof that your property taxes are current.
The Sooner you Begin Christian Debt Consolidation the Better
You will get a lot of different advice on how Christian debt consolidation will work for you. Make sure that all the tips and information is biblically sound.
Learning to spend your money correctly also means tithing. Do not cut that part of your expenses out; trust God to fill in the gaps for you. When you were running up these debts, you forgot to trust him first and that is how the problem truly began.
As you begin to see progress, you will also experience how freeing and stress relieving a debt free life can be.
Complete Christian debt elimination should be your goal. It will take time and commitment on your part to be successful. Remember that being in debt makes you a slave to money.
Have you had enough of working hard to make money ... just to find that your paycheck comes in one day and goes out the next to pay your mortgage, your loans, and your credit card bills?
John Cummuta has shown over 1 million people how to get out of debt just by using the money they already earn in as little as 5 to 7 years.
NOW! Just imagine what you will feel like, when you wake up one morning and absolutely know that all of your debts have been eliminated.
You can follow the same proven tips and techniques used by eliminate your debts and build the credit rating you really deserve!
