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