Christian Debt and Credit Counseling – Debt Management Plans

Posted on | February 4, 2009 | No Comments

If you have found yourself in the need of Christian credit counseling, odds are (like me) you will need to develop some type of a debt management plan. Debt management plans are essential to providing you with a road map that details where you currently are in this financial mess, and what path you need to take to find debt relief. The hardest part of this step for me was accurately detailing ALL of my debt, this includes unsecured personal loans. Not just the big bills that I knew were dragging me down, but also all of the smaller expenditures that can add up very quickly. Once you get all of these items together you can get a full understanding of your credit card debt as well as all of your other debt, and then begin to make a concerted effort to attack the problem. This is where debt management plans come into the picture. They will allow you to evaluate your current debt and break it down into sizeable chunks.

A debt management plan details what items you will need to identify for each obligation (who the creditor is, how much you owe, what is the interest on the debt, what is your monthly payment, etc). This information is typically laid out in a tabular format that is easy to read and follow. Make sure you take your time when putting this information together because it is going to be very important later.

If you are not quite sure what your debt management plan should look like, you can search the web for examples. There are many sites out there that provide a great deal of information on this topic and I would highly encourage you to take the time to take a look at their sites and find the format for your debt management plan that will work out best for you and your family.

Additionally, as stated before, if you are working with a debt management agency, or a Christian debt counseling group, you must remember to do your homework. There are those people out there that will bill themselves as experts in the Christian credit counseling world and promise you the world in exchange for your money. These folks will not tell you that they are crooked, it incumbent on you to find out who to trust. I did take a look at Christian Financial Ministries, and they looked like they might be worth a shot, but I have not completely decided who I am going to use yet. I will let you know when I figure it out. Likewise, if you find a good Christian credit counseling service, stop back and let me know.

Good luck!

Christian Debt and Credit Counseling

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