Debt Info Center

You send us one payment each month. We then share out this payment between your creditors and pay the set amount. Your creditors are satisfied that you are trying to straighten out your debts and that they are receiving this set amount each month.
The benefit to you is that you now make only one payment each month at an amount that you afford and you are no longer being bothered by your creditors.

Yes, if collections agencies are still calling you after the first few payments, we at Financial Freedom may use the Fair Credit Report Act, a federal law, to make them stop calling. If collection agencies are calling you at work and jeopardizing your job, we get them to comply with the law.

You continue to receive statements from your creditors. You will be sent a monthly statement that will match the one your creditor sends you every month. We will provide full disclosure as to how we are helping you.

If you have bad credit at the time you begin a debt management program, your credit rating can only improve. Most Credit card companies and other creditors usually re-age accounts that have undergone debt management with timely payments, you begin establishing a sound credit report.

That depends on your State Guidelines. There may be a small processing fee between $50.00-75.00. The monthly service charges range from $20.00-50.00.Your budget is also taken into consideration and fees can be waived.

Absolutely Not!!! Debt consolidation is for people who want to pay what they owe and have the ability to obtain credit in the future.  Bankruptcy is designed to absolve you of all your obligations and results in long term negative credit status.

Keeping your credit cards current is important but national statistics tell us that it takes over one year for every thousand dollars owed to pay creditors at a 20% Annual Percentage Rate on debts over $5000. Sooner or later, your debt will overcome your ability to pay your bills on time. Your credit ratings may eventually deteriorate due to debt-to-income ratios. That is, if you divide the amount you owe by the amount you make each year, you will get a rough idea of where you are. If you are over 50%, you are obviously in need of debt management and debt consolidation. Note: These totals are estimated amounts.

4-6 years

It may be that you have not missed payments but you still realize that you will never be able to get out of debt by paying only the minimum amount every month. In this case, you are in financial danger but your credit rating may still be very good. Once you have begun Financial Freedom Christian Counseling Service debt management program, your credit report will show a remark such as "under debt management" or "managed by credit counseling". Generally, this indicates that you have found yourself struggling with debts but have taken prudent measures to solve the problem, a beneficial indication.

If you have bad credit at the time you begin a debt management program, your credit rating can only improve over time. Credit card companies and other creditors usually re-age accounts that have undergone debt management, credit counseling and bring them up to "Current". As you make timely payments, you begin establishing a sound credit report. Credit repair and good credit reports can only be established over time.

No. We charge a small debt management fee which is included in your monthly payment. Even with Financial Freedom Christian Counseling Service fee, your monthly payments are usually less and your interest expense is greatly reduced from what you would have been paying under your original creditor’s terms. Reasonably quick debt reduction and credit repair would never be possible if our debt consolidation program were expensive.

No. We work with the creditors you SAY you owe. A credit report may be useful as there may be items that appear that you may have forgotten such as bad credit comments, bad credit loans, credit card debts, collection agencies, student loans, medical bills, and taxes. We can help you consolidate all debts that are unsecured!

They do! However, debt reduction, credit counseling and credit repair are entirely different functions than what the credit card companies do best. Credit card companies would prefer that people dealt with specialized debt consolidation firms who take on the substantial burden of individual repayment agreements and terms as well as all the attendant paperwork. For these reasons, the credit card companies have special programs only for use by debt management companies such as Financial Freedom Christian Counseling Service.

Most credit card companies or other creditors have their own debt management programs. However, they will not do this on an individual basis. Since Financial Freedom Christian Counseling Service deals with thousands of clients and creditors continually, our enhanced ability to lower your interest rates and negotiate a new debt management plan is our strength – and yours too! We will advise you about your personal accounts and provide you the best options for getting out of debt as quickly as possible.

No. We strongly caution you against using a debt consolidation loan. Instead, Financial Freedom Christian Counseling Service will:
- Negotiate with your creditors to reduce your interest rates and monthly payments.
- Present you with a reasonable agreement for repaying your debts, taking into account your household budget requirements.
- Accept your single payment every month and disburse it to your creditors on time

The objective of bankruptcy is to absolve oneself of debts altogether. This financial strategy, however, has serious and long-term drawbacks which may negatively affect your life for decades. For example, applying for life insurance, purchasing a business, buying a home, applying for a job, etc. can all be negatively affected by a prior bankruptcy. Under a debt management plan, you commit to repaying your debt obligations. Thus, one can repair bad credit, maintain a good credit rating and return to a debt free lifestyle quickly and without frustrating negative consequences.

No. Only unsecured debts are considered for a debt management program. Your home mortgage and your car loan are secured by your home and car respectively as collateral.

Yes, you should. If you wait, you will inevitably fall behind and your good credit rating will suffer. If you enter a debt management plan now, you can save your credit rating. A good credit report is always worth saving.

Be very skeptical of any company or organization who promises instant credit repair. No one can erase a negative credit report if it is indeed true. Your credit rating will improve as you pay down debt and show a regular, timely stream of payments to you creditors. Financial Freedom Christian Counseling Service can assist you in receiving written acknowledgement that you have fulfilled your obligations to them once you have made your last payment.

Yes, you may request statements upon your request free of charge and in most cases you can also review your account online. Financial Freedom Christian Counseling Service will provide full disclosure as to how we are helping you.