Christian debt consolidation - Are they a rip off?

I get a lot of spam emails from them and other christian debt help companies. Most of them all have high complaint records with BBB and they seem pretty shady to me. If your looking for good consolidation advice than look right before you. This site offers a free consultaion. I would advise using their free service before deciding to pay another company who might take your money and run.

I have gotten spam from them as well. I would just google them as well as look them up on the BBB website.

I am dealing with one now out of Florida and so far so good..haven't signed up yet, but they seem reasonable to me..they are Cornerstone Financial Counsolers. no complaints on the bbb and have a A+ rating. I even search for them on this website and nothing came up either.

I find it apalling that companies use the title "Christian" too gain the trust of people before ripping them off or sending them somewhere too get ripped off. There is a Chritian Payday Loan out there who matches borrowers with who ever they can regardless of the comanies legality and reputation. But when I think of that TV guy asking for 1000.00 vows that will be returned ten fold nothing surprises me. I would not want to stand near one of these people in a lightning storm.

Hi,

We are christian family,we need loan of 45 thousand USD , please help us to find some way.
Personal info removed by Shazzers for your protection.

Thanks & Regards
Gulia

I too need some financial help but every consolidator I have spoken to fails to mention about the IRS potential tax liability you have after signing up and they set up. The settled amount s then reported to the IRS as income you gained and you have to pay taxes on it Not only that, after the payoff it is reported to the credit bureaus you settled for less. So it's not as good as they say.

hi, over the past few years i have built up abou 10k in credit card dues, would your organization be able to consolidate that amount for me, im not looking to keep my existing credit cards open but every other place i have gone to looks at my DTI ratio and dosent believe that i would close out those other accounts, do u pay the credit card companies to insure i dont leave other accounts open?

if you help us is it in the form of a loan or do you just work with the credit card companies to get us a lower rate

This thread is getting way off track. This is a forum to discuss debt solutions. We are not a lender nor does this site endorse any lender who posted above. Get it? You can't borrow money here. Please contact a legitimate lending institution. If this continues I will lock this thread. I do not want to sound heartless but this is not the place to come for a loan.

Can a mortgage be included into Christian debt consolidation - even if the mortgage is upside down?

Most of you have this all wrong. I've been in this industry for several years now and yes there are terrible companies out there, but theres also alot of great ones. The particular company I work for for offers both debt consolidation and settlement[URL="http://www.debtconsolidationcare.com/debt-settlement.html"][/URL]. I constantly hear, what will this do to my credit.This is coming from people who have a low credit score and have missed a few payments as well as people who have a 700 or so credit score. Let me break it down for you. If you have a 700 credit score, but you can only afford to make minimum payments and 95 % are only making minimums are over extended and their debt to income ratio is upside down. Which means they have NO CREDIT. They can't afford to pay back anymore loans or credit cards and there is no credit to extend. Sure your credit score is good, so what your credit is done. Bottom line if your making minimum payments on a debt of $10,000 or more options do you have

Example of a client I spoke with today:

He owed approx $32,000
On his own he's paying $865 and it will take about 18 yrs
Consolidation would be $806 for just over 4 years
You do the math...............
He had to think about it

I have recently returned to the Lord and need assistance with tax, credit card and personal consolidation. Is there an office in the Greenville, Clemson, Anderson, SC area?

I have 4 credit cards totally around $6000 that I would like to consolidate. Is this something you could help me with? Thanks!

Rebecca,

Please register with the site. SOmeone will contact you to discuss your situation.

I'm looking for someone to help me get my bills upto date and to get my credit back on the right track.

Is there a service that can consolidate debt in to one payment without effecting your dredit? It's my debt; I should have to pay it. I don't want anyone to eliminate it just to have lower interest and one payment.

We purchased a 2nd property with the intend of selling within a year but the bottom fell out of the housing market and our property is worth a lot less than we paid for it. In addition our loan took interest payments from the equity we paid, now we have no equity and high interest payments. We feel we are going to be paying a couple thousand into this for the rest of our life and never really own it. We have tried talking to County Wide about refinancing but have to come up with a large sum of money to do this. We don't know what to do.

Thank you.

Where can I find more information regarding Christian Debt Colsolidation organizations in the St. Louis, Missouri area?

Thank you.

Leander

Personal info deleted for your protection - Moderator

Is payday loan debt a part of this consolidation priogram?

How many years of tax records does this company require for proof of income. Wonder if you have only worked for 3 years and they want 5

I am currently in a financial crunch of approximately 20,000 with 7 creditors. If I go through your program, how much will your help cost me?

Elba

i would like to work with a company in CA. and does all transaction in CA. if you do, please give me your name, i would like to call CA. consumer protection agency and BBB in your city.

elbaliramartinez, are you talking about the services provided by this site? i know they offer a free consoltation

anon, im confused?

What are the fess for the Program?

I NEED A MERCHANT FOR MY COMPANY

i will find out if they are a ripoff but i do know i have ask them why they call themselves a christian company and boy they get upset and say dont start interviewing me just ask quesions, i dont think any of them are christians . so far they havent done a thing for me i have been in program a yr , they really dont act as smart as i am so i am getting a little nervous over this company , dont use god to sell anything , just be as good as your word oh yes they say you can save 50 to 60percent off your debt but once you are in it is totally different

i will find out if they are a ripoff but i do know i have ask them why they call themselves a christian company and boy they get upset and say dont start interviewing me just ask quesions, i dont think any of them are christians . so far they havent done a thing for me i have been in program a yr , they really dont act as smart as i am so i am getting a little nervous over this company , dont use god to sell anything , just be as good as your word oh yes they say you can save 50 to 60percent off your debt but once you are in it is totally different

Does debt consolidation affect your credit? I have a few loans with low to no interset rates and then I have credit cards with higher interest rates. We are a one income family now and would like to continue to pay off our cards and become debt free eventually. We are concerned about our credit score in case we need to move in a few years.

Can you work with people who's debt has been turned over to collection agencies?

i would like to get into the dhristain debt group to help me with my creedit issues. i need to guidance to get this straight. how do i go about getting into the christaian det group. who do i contact?

If one has inquired of a program such as yours, determining a rate/payment reduction option, and even that option is unmanageable, would debt settlement be an alternative/option?

In regards to the above question, what are the drawbacks of debt settlement, if any?

If my debts have been turned over to collection agencies, can they still be consolidated?

Not anymore, it don't.

I have private student loans through sallie mae. Can Christian Debt Consolidation help me?

Bay view law group has been good for me! I am laughing at some of the rip off claims too
Truth is I have no idea how someone claims they took cash so I would blow that off LOL
They told me it would be a while before I had money to settle accounts but are allowing me to make payments on the legal fees instead of having to pay them all up front so that's huge to me
The people are alwayae nice and even the downside of the program is explained to me so, in the highly unlikely event that I was actually discussing my sent with someone I wold rexomend bayview law group to them in a heart beat! :)

I am planning to sponsor my husband from other country. I used to have good income but lately our company which is a non-profit organization is no longer able to give me the income I should have. So i don't have fixed income so i am not able to pay my bills on time, that makes me in bondage of debt because they are filing up. What do i need to do to be out of debt. to have debt consolidation or debt settlement. Will my sponsorship of my husband be not affected if i apply any of these methods? Do both method requires direct deduction frommy bank accounts in paying the minimum payment. please help me on this. i am a Christian worker.

Well, you have given us very little information to comment on. Normally, both debt consolidation and settlement are options to reduce the debt burden. You may need to consult a professional to know the right path for you.

You may sign up for a free debt consultation with this site. Also, check the 'do it yourself' if you want to take care of your finances yourself.

My younger brother, Ronnie, who lives in Foley, Alabama is getting deeper in debt with payday loans and wants relief. He filed for bankrupcy about 5 years ago and to the best of my knowledge, has no credit card debt but he does have a car loan from a local agency. He owns the small home that he and his wife live in (an inheritance) and both have jobs paying low salaries.
I'm 62, live in VA and can not help him financially. I refused to cosign a loan for him because of my understanding of Scripture. Do you have any advice for him? He doesn't own a computer but has access to one at the library.
Thanks for your help.

Wayne,

He can avail any of the routes to reduce his debt- settlement, consolidation; even bankruptcy can be an option. But it's hard to be definite with an answer since we don't know how much he earns or how much he owes. You can ask him to sign up with Debtcc to get a free debt consultation.

Hope it helps.

Wow, just be upfront. Christian in your name helps be that?!

Ditto. I commented on that before also.

When I was shopping around for debt settlement companies I came across many Christian debt consolidation/settlement companies too. I don't know, I guess I just didn't feel comfortable with a company using the Lord as a marketing tactic (although, maybe it is true). I eventually found a company through solicitation removed, and they did all of the searching for me. It was super easy. I've just started about 4 months ago, and so far so good! Soon to be debt free!

All the debt relief or debt consolidation weather it is Christian or not. Be very careful. I would not recommend them. They will take your money faster than anything and they don't really do their job well. You can do it all by yourself. Just don't be afraid of anything. Even if you are sue, you can always make payments with the court. They will take on your payment tern. They will offer you a settlement down the road. If you make payment, there won't be any more interest. I have been there.

i got a call telling me to call 281-214-1203 allied data cor. but it did not ask for anyone just for the person on the phone to call can you help me please

Most companies that claim to be Christians are rip offs, why? because it is agianst the law to hire based on race, religion, sex, etc. you get the idea! If you really want to save money you need to be educated and go with a company that isn't doing the exact opposite of what a Christian would do.

ITS IILEGAL!

When the debt charges off, usually around the same time it is purchased (factored), there are no longer chances of getting that substantial 1099 added income tax on the savings. It's a major pitfall with settling with the primary creditors, I only did settlements with 3rd parties, and always try to verify charge off date before settling. Most CC companies charge accounts off between 120-180 days, with Citi being the longest I know of at 210 days (7 months after the last payment was made). It's a long process and can be more difficult to get the original creditors to stop calling, but it's worth it not to get 1099'd. I can't offer tax advice but that's my understanding of the process. I do know that Capital One, Citi, and Chase will each take some form of remove from phone list letter, or even a Cease and Desist usually used with 3rd party collectors.

Good debt settlement is possible, there is just a window of time after chargeoff and before litigation to get a good settlement. Even if it's with a same state attorney who is filing suit for a judgment, you can negotiate a settlement of usually around 50% most of the time. If thats not doable at the time, you can either go to court or take a default judgment. If a judgment is obtained, they can still be settled often under 30%. It takes a couple years to get them off the credit report from what I have heard but still can be removed. After you get a judgment though, you have to send them a certain amount of money per month, usually $25-$100 depending on the size of the debt, to prevent them from executing the judgment, which is going after liens, garnishment, and checking account freezes. Consult with a business lawyer as there may be different/ other things you need to do to prevent a judgment from being executed, if you end up getting a judgment.

Andy










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Also, the credit score will go down with any debt consolidation OR settlement program. It should really only be looked at as an alternative to bankruptcy, and most of my former clients already had low credit so it didn;t make much difference. However, after debt is all settled, you can begin the process of repairing the credit, which can involve things like sending different sets of letters to the credit bureaus to dispute the inquiries caused by settled below balance accounts and other negative marks. Some of the more detailed credit repair plans include re-establishing lines of credit with lenders that are manageable. Hope this helps

:) Hello. I find that the "Christian Debt Consolidation" companies have nothing more to offer than the legitimate, non-promoting-Christian debt consolidation companies. I am currently working with Care One Credit to get out of my credit card mess. It's my own fault, I took credit cards out (again) post-Chapter 7 back in 2006. Care One Credit, although not "Christian" (in advertising, anyways) has been nothing but friendly, helpful and convenient. Just a thought! ~Thanks, Jen D.

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The Christian debt consolidation does a right thing if it educates the people to honor their payments and dues and live within their limits. Actually, it is important to make a debtor debt free, but it is still more important to make him realize that he has the responsibilities to return back, what he has taken from others. This way, they will not fall under debt in future, as they come to realize that they should live within the limitations of their income.

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