For Christians, debt represents a bondage. According to the biblical book Proverbs, "The borrower is the lender's slave." Christians seeking to break the chains of debt bondage look for resources that are in line with their faith and beliefs. Thanks in part to the Internet, Christians can find the resources and tools they need to conquer debt.
Crown Financial Ministries
Crown Financial Ministries offers financial and debt management advice through ministry, articles and online tools. Many churches offer Crown classes that teach money management skills in a spiritual setting. Those that are unable to attend the classes can find the classes, teachings, articles and financial calculators on the Crown Ministries website. The site offers resources for those wishing to start Crown classes in their church. Crown ministries is a nonprofit organization without affiliation to any church denomination. The organization is a member of the Evangelical Council for Financial Accountability and adhere to the council's standards.
Christian Principles for Getting out of Debt
Christians looking to get out of debt should first pray for guidance in their journey and transfer ownership of the situation to God. Even though they are in debt, Christians should continue to tithe to show that they have transferred ownership to God and have faith in his leadership. Accruing no more debt is also an important part of breaking the debt cycle. Pay in cash; do not use credit cards. Mapping out a realistic household budget is important in managing spending. Lifestyle changes may be in order for those deeply in debt.
Christian Debt Counseling
Debt counselors work with clients to construct a debt management plan. A debt counselor helps develop budgets and works with clients on money management skills. Christian debt counselors do this with spiritual principles as their guide. Christian counselors work with their clients to ensure that their spiritual needs are being met, and they don't work as agents for creditors. The website for Christian Debt Solutions offers many links to reputable companies as well as links to free budget-setting tools.
Christian Debt Consolidation
Christian debt consolidation counselors review clients' outstanding debts in order to develop a plan for repayment. Counselors offer plans that consolidate credit card payments and other unsecured loans into one monthly payment. A company should let clients know whether consolidation is a valid option or if lifestyle changes or bankruptcy are the better choices. Clients who use this service pay a monthly fee to the company, which is then passed on to their creditors. The debt consolidation company takes a percentage of the monthly payment as a fee.
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