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About Christian Credit Counselors
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Established in 1990, Christian Credit Counselors is a faith-based, nonprofit credit counseling and debt management company. It is currently headquartered in and offers free financial workshops in California, but it is licensed to work with clients in 36 states. It offers budget counseling, credit counseling, credit report counseling and debt management plans (DMPs). It does not offer bankruptcy or housing counseling.
Pros & Cons
- Free consultation
- Spanish counseling available
- Not available in all states
- No bankruptcy counseling
What is Christian Credit Counselors?
Christian Credit Counselors has a relationship with over 400 creditors and can help you set up a reasonable payment plan for all your unsecured debt. It is a member of the National Foundation for Credit Counseling (NFCC), the Financial Counseling Association of America (FCAA) and the National Association of Certified Credit Counselors (NACCC).
How does Christian Credit Counselors work?
All new clients are encouraged to sign up for a free credit counseling session. This session will help you understand how much you can save and how fast you can pay off your debt.
Once you’re enrolled in a DMP, your credit counselor will work with your household budget to find a payment plan that works for your finances. The Christian Credit Counselors team then works with you and your creditors to decrease your interest rates so that you can repay your debt faster. The company claims it has reduced interest rates for some clients by up to 75%.
Christian Credit Counselors services
Christian Credit Counselors does not offer a wide range of financial counseling services like its competitors. For example, you will not be able to find help if you are in the middle of a foreclosure, on the brink of bankruptcy or battling student loans.
Christian Credit Counselors does offer a DMP that helps you negotiate down to one monthly payment with your creditors at a lower interest rate. The interest rate reductions are pre-negotiated and disclosed at the time of enrollment and can vary between an annual percentage rate (APR) of 0% and 15.99%. Becoming debt-free with this program typically takes three to five years.
Christian Credit Counselors costs
After a free consultation, Christian Credit Counselors will charge a monthly service fee for its DMP. This fee is set by your state, but Christian Credit Counselors does cap its charges at $75 per month. Your monthly cost could be much lower, though.
An initial setup fee might be charged for individuals in select states.
Christian Credit Counselors FAQ
Which debts can Christian Credit Counselors help with?
Christian Credit Counselors can help with most unsecured debts, including credit cards, medical bills and unsecured loans (loans not backed by collateral). It cannot help with student loan debts or mortgages.
Does my debt need to be past due to qualify for Christian Credit Counselors?
No, the company can help you either way, but it is advantageous to keep your credit accounts in good standing. A DMP is not like a debt relief/debt settlement plan that requires you to prove financial hardship by neglecting your debt. Using a DMP instead of a debt relief company will be better for your credit score in the long run.
Can Christian Credit Counselors help with penalty fees?
Yes. Once you enroll your debt into a DMP through Christian Credit Counselors, many creditors will stop late fees and penalty fees as part of the agreement.
Will using Christian Credit Counselors hurt my credit score?
The company says that enrolling in a DMP does not directly affect your credit score; however, your credit report may show that you’re working with a credit counseling agency. Christian Credit Counselors’ ultimate goal for its clients is to improve their overall financial and credit well-being.
Is Christian Credit Counselors legit?
Christian Credit Counselors is a legitimate company that has been around for over three decades. It says it can help clients get out of debt 80% faster than if they were to do it on their own. It also says it has helped over 300,000 individuals achieve a debt-free lifestyle.
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Christian Credit Counselors Company Information
- Company Name:
- Christian Credit Counselors
- Website:
- www.christiancreditcounselors.org
