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Christian Debt Management

Debt Management

In theory, Christian debt management is a method of controlling and managing your debts guided by Christian principles. Just how you can do this is a little difficult to understand despite numerous references to money in the Bible. The good book counsels us to avoid debt at all costs but offers little guidance on how to manage debt in a Christian manner.

"Let no debt remain outstanding, except the continuing debt to love one another."

Romans 13:8

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In practice, Christian debt management is not something for you to aspire to but a service offered by an increasing number of debt management companies. It's comforting when you are shouldering the burden of financial problems to seek out a company that shares your principles. Christian debt management companies can offer advice on preventing similar problems in the future and repairing relationships with your spouse, family or neighbours that may have been damaged by debt.

Unfortunately, the good intentions of true Christians have been hijacked by some unscrupulous firms and sorting the reliable Christian agencies from those that are untrustworthy can be a confusing and time-consuming task.

The best advice is to be extremely wary of so-called Christian debt management programs . Most are simply a highly effective marketing ploy to prey on your faith and vulnerability and part you from more money than is necessary. Many cost more than commercial debt management companies in the long run and have little more to do with Christianity than the company name.

Christian debt management companies often play on the principles of failure, suffering and guilt, and press you to make minimum payments, pay up-front contributions or otherwise exploit your good nature and unguarded position. The products and solutions offered by these self-styled Christian companies rarely differ from those of commercial organizations and can often be worse.

Remember, these are profit-making companies like the rest of them and all are out to make money on your repayment structure. The Christian debt management company may just involve more lying on their behalf and more disillusionment on yours. Unmanageable debts will not go away no matter how much faith you have and companies that tell you to trust in God and your debt will disappear should be avoided at all costs. Debt is no place to look for divine intervention.

If a company truly wishes to operate on Christian principles then surely they will put your interests before their profit every time. When considering using a Christian debt management company ask yourself if the company really shares your principles and acts in a Christian manner. Is it there to help you or itself?

If you are considering using one of these companies treat it as you would any other financial institution. Before you ever visit the office or make that phone call look for an independent recommendation and examine their track record. Then visit them in person and ask plenty of questions, read their literature and inspect the small print for hidden fees or clauses. You may be a good Christian but being a naive one too won't get you out of debt.