Bankruptcy options should be taken last if you are looking to resolve debt issues. Filing for bankruptcy may not be necessary should you apply for and get 債務舒緩 approved for one of the many free government debt relief grants. While borrowing money to consolidate debts may seem viable option, however, it may not be all together wise. When you are borrowing a loan to pay another loan debt, you are not really getting too far financially. Truthfully, a debt consolidation loan is giving you money to “pay off” debts immediately, but you have to pay back the debt together with high interest. Essentially, with debt consolidation loan, you become deeper in debt than you were to begin with. The government offers debt relief grants for those individuals or small businesses that are eligible. Grants are freely given and in some instances are not to be repaid at all. You will be surprised that individual debt-relief grants can be used for paying a variety of debts. Such grants can be easily applied for and the funds can be used to pay mortgage, tuition fees, medical bills, utility bills, car loans, credit card debt, legal fees and home improvements. A grant can assist the individual minimize the accruing interest rates fees of credit card debt and might help repair damaged credit over time.

Once you have applied for a debt-relief grant and given approval, and paying off lingering debt, you will be able to successfully reestablish your current financial state. A point to take note, there is still more work that lies ahead of you. Once you are clear of debt, you need to make sure that you remain debt free always. Otherwise you will put yourself in the same critical financial condition again. Do take the time to learn how to be financially savvy in order to avoid unnecessary debt. You may also want to enroll in debt management class because the benefits of it is priceless as you get to develop control over your personal finance as a result. Many may think that Christian debt relief is a magic pill for overwhelming credit card debt when in fact these organizations will also employ most of the same options that other credible credit counselors and reputable debt relief agencies will use to help get a client out of debt. This is why; many debtors have been burned by dodgy agencies posing as Christian debt relief centers only to find out that the faith-based principles and assistance they seek are simply magical illusions propped by deceptive marketing.

True Christian debt relief will not make claims for a miraculous intervention for unsecured debt such as those owed from credit cards. Nevertheless, the miracle happens when those under a genuine Christian debt relief program transforms from a debt burdened and overspending complainant to someone who owns up to his or her obligations and dutifully settles them and from then on successfully manages their finances following true Christian stewardship teachings.

Unfortunately there are scores of scammers and hooligans who use the term “Christian” at will and at their own liberty. It is outright blasphemy and this has made the term Christian debt relief somewhat of a joke. Nevertheless, there are still legitimate Christian debt relief ministries that do provide free counseling and guidance to help debtors in distress get up from under their debts. Quoting Bible verses is not the mark of a real Christian debt relief group. The Bible teaches about faith that works and truly Christian-principled debt help will result in meaningful efforts that lead to the reduction or elimination of debt without resorting to deception or illegal means. These debt relief programs are centered on Christian counseling, re-education as well as intensive budgeting and financial planning. This enriches the client to become good financial stewards even beyond the full repayment of the debt. With sham debt relief operations, clients are likely placed in more financial jeopardy than they already are. Unscrupulous debt management programs might reallocate your deposits for other purposes instead of repaying your credit card accounts. This would result not only in money lost but also to mounting fees and charges burying the debtor in worse debt than when he began.

In terms of costs, be wary of debt relief programs that ask for so called “voluntary contributions” from its clients. Others have hidden charges that cost an arm and a leg. Real Christian debt relief ministries are usually funded by church communities and similar non-profits to operate and rarely needs substantial fees. If at all, the fees will be marginal, even optional and should not deter Christian credit counselors from dispensing their mission and service to you.