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| Unsecured debt is when
a creditor holds no collateral. For example, an unsecured debt
is: Credit Cards, Unsecured Personal Loans, Medical Bills, Student
Loans, Taxes, Charged-Off Accounts, and Collection Agencies. No
form of collateral such as a home or car was utilized to secure
the "loan" for services rendered or goods received. Secured
loans such as a Mortgage or car Loans cannot be consolidated.
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| Credit counseling is
a process to help people in debt regain control of their finances.
Many people choose credit counseling as an alternative weather
you have good credit or bad credit. A Debt Management Plan provided
by Christian Credit Care is voluntary. |
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| In contrast, when you file for Chapter 13 bankruptcy, it becomes
public record. Such a step has serious and long-term drawbacks, which
may negatively affect your life for decades. You may also have difficulty
obtaining credit in the future. |
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| A program designed
to assist consumers in paying outstanding debt, avoiding bankruptcy
and minimizing legal and debt problems. |
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| If you are delinquent
on your accounts now, we can get your creditors to re-age your
accounts and show them current. If you pay your bills on time,
but have too much credit, and you are not getting ahead by making
minimum payments, by reducing your debt to income ratio, you will
improve your credit. |
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| Debt repayment varies
greatly from client to client. t depends on the total amount of
debt that you have and the terms being offered by your specific
creditors. However, our clients are often able to pay back their
debt in 3 to 5 years. |
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| NO.
Our specialists always say that loans are what got you into trouble
in the first place. Why? Most unsecured loans have high interest
, and if you get a home equity loan, you are now securing your
credit cards with your home. |
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| NO.
The choice is up to you which debt you include in our program.
In fact, many people choose to keep at least one credit card for
travel or emergency purposes. You can always add additional credit
card later. |
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| All information you
give Christian Credit Care is strictly confidential. |
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| It might be possible
in the first several months, since it takes time for your creditor's
collections department to find out you're on DMP program with our
agency. If you get a harassing call, inform the creditor to contact
us. |
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