Questions and Answers
Do I have to owe a certain amount of money in order to be in your program?
No. Unlike many credit counseling companies. Your acceptance into and participation in a Debt Management plan is not dependent upon how much money you have or how much money you owe.
How does the credit counseling program work?
A Debt Consolidation plan allows you to include unsecured debt such as credit cards, department store cards, personal loans, past due medical bills, past due utility bills and IRS bills. Your Service Provider then negotiates with creditors to lower interest rates. Monthly payments can often times be dramatically reduced. You will then make one affordable monthly payment which will then disbursed to your creditors. Regardless of financial status, everyone can benefit from the programs ability to get interest rates lowered or eliminated. We help you to avoid bankruptcy, improve your credit, and stop harassing calls from your creditors.
How will I save money?
Monthly payments can often times be dramatically reduced. Through expert knowledge and long-established contacts your Service Providers will utilize specialized industry information to successfully negotiate with your creditors. To significantly reduce or eliminate interest rates, late charges, administrative and bank fees.
How will this affect my credit rating?
If your credit rating is good, it should remain good as long as you continue to make on time, consecutive monthly payments. If your credit is not good, your participation and compliance with our program will help you to rebuild your credit so that you will no longer be considered a risk but a good paying customer.
Does my enrollment in credit counseling appear on my credit report?
It could, however your Service Provider does not report to the credit bureaus and we ask that your creditors do not report either. Some creditors will report that you are participating in a third party repayment plan and others will not; however, it is not seen as derogatory; credit reporting agencies, credit card companies and other creditors see this as a positive move in an effort to satisfy your debts and/or rebuild your credit. Your participation into the Debt Consolidation program is strictly voluntary. You decide your start date and you decide when, if at all, you would like to terminate your consolidation program without penalty.
Why can’t I negotiate with my creditors directly?
Christian Debt Solutions, along with our affiliates, are in an excellent position to provide you with benefits, terms and reductions generally not achievable by private individuals. Christian Debt Solutions affiliates are nationally recognized Credit Counseling agencies; who negotiate favorable terms and binding agreements with all creditors.
How long will I be in the program?
This is a case-by-case situation, primarily influenced by the amount of debt and your ability to repay based upon the terms established.
What happens when I complete the program?
Provided you have complied with the terms, you may have re-established good credit and may be eligible for various types of loans or credit cards. It's not uncommon for people who have been in our program for as little as 90 days to be approved for a wide range of loans.
What can you do about my car, truck or mortgage loan's?
These types of loans are considered “secured loans.” Secured loans are generally not handled by Credit Counseling agencies. However, as a courtesy and as a part of our package of professional services, upon request we will investigate the alternatives and/or negotiate your secured loans provided your loan's are greater than one year.
Can I pay more per month than agreed to?
Yes. When you make your monthly payment, you may apply the difference toward any account you designate.
Can I pay the “total” of my debts off early?
Yes. If you receive a gift, bonus, tax refund, inheritance or any other source of unexpected income, we can likely negotiate significant settlement savings with your creditors on your behalf.
Can you help with my business debts?
This is determined on a case by case scenario. Similar to personal debts, most often we can negotiate with your creditors to arrive at a plan and terms satisfactory to all parties.
What are your credentials?
Christian Debt Solutions and Affiliates have helped thousands of families become debt-free over the years. Most importantly as a testimony of our Christian Values and principles, we are a proud member of the Better Business Bureau.
Who are your clients?
Any person or business with financial difficulties due to over extended debt or simply frustrated with today’s high interest rates; this includes individuals, professionals and business organizations.
Do you only help people who can’t afford to pay their bills?
We assist people who are feeling as though they’ll never get out of debt and often times unable to pay their bills due to lack of income, job loss, or medical/health problems.
Can you loan me money?
We're not a financial institution, bank, loan or mortgage company, however, through our extensive experience in the industry, we have aligned ourselves with certain trade groups, professional organizations, financial planners and organizations that may be able to loan you money. Ask your personal credit counselor for more information about our Down Payment Assistance Program.
Why should I use Christian Debt Solutions?
We have an excellent track record; we offer superior client service and have successfully helped literally thousands of clients from all walks of life, professions and businesses around the world, save money and realistically get out of debt.