Debt Consolidation Loans Allowed According to ChristiaNet Poll

ChristiaNet.com, the world’s largest Christian portal with 12 million monthly page loads, asked readers in a new poll, "Should Christians use debt consolidation loans?" The majority seem to agree that it can be a positive way to deal with financial problems and acquire freedom from debt. Many suggested that Christians who find themselves with overwhelming debt should seek credit counseling and learn to be a good steward with the blessings of God.

Out of 218 surveyed, 95 answered, "yes" to the question. One Believer wrote, "If it allows one to avoid bankruptcy and the cost savings is reasonable enough to offset the ultimate outcome." Debt consolidation loans can be acquired through taking out a second mortgage on a home or through a lender who will combine all debts into one. A second mortgage loan is often done with equity acquired in a home and usually means a cheaper interest rate compared to other types of loans.

Forty-three participants responded "no" to the survey question. A majority of this group seemed to overall agree that taking on more debt through additional financing isn’t always the best answer. Credit counseling is more beneficial to Christians who have problems with money management. One participant said, "If anyone has reached this point, they need to destroy all major credit cards and start paying their bills until they are debt-free before spending more."

Eighty people involved with this poll were unsure about debt consolidation loans. Many felt that it really depends on individual circumstances and the choices involved. Bill Cooper, President of ChristiaNet.com, offered some advice for Christians who are deep in debt, "There is a three-fold formula to follow; pray and seek God, find out all the options available to solve the problem, and participate in Christian credit counseling."

Some of the good points written by participants in this poll include, control spending, pay tithes and offerings, seek God, learn what the will of God really is and be determined to not repeat the same mistakes over and over. In order to learn from a mistake, a believer needs to ask God to show them if a problem stems from an emotional or spiritual issue. God gives comfort and healing to those who ask.