Credit card debt fell sharply during the COVID shutdowns. Unfortunately, it’s becoming a big problem again. Folks cut spending and used stimulus money to pay down credit card debt during the pandemic. But what a difference a year makes. Rob talks about it with Neile Simon first and how you can get help with your credit card debt.
Neile Simon is a Certified Credit Counselor with Christian Credit Counselors, an underwriter of this program. Get more information at ChristianCreditCounselors.org
- One of the few positive outcomes of the COVID crisis was that people paid down credit card debt. But I guess you’re here to report that was short-lived?
- We’re also seeing sharp increases in home foreclosures, up 115% in 2022 and delinquent auto loans, up more than 25%. But credit card debt is one area where folks CAN make real progress, relatively quickly. Tell us about that.
- This isn’t just a quick fix; the benefits of setting up a debt management plan with Christian Credit Counselors have a lasting effect, wouldn’t you agree?
- Why is this a biblical approach to ending credit card debt?
- Our featured scripture verse this week is from Roman 13:7 which says, “Give to everyone what you owe them: If you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honor, then honor.” That’s good news from God’s Word today. We feature a different scripture passage each week in our Weekly Wisdom email, and it’s a free subscription. Join the thousands of others who are receiving it by going to faithfi.com and click “Sign Up” to register.
Next, Rob answers these questions at 800-525-7000
or via email at askrob@FaithFi.com:
- If you have a life-long goal to give away as much as you can but also realize this instills a problem with pride in that, how should you deal with this?
- How do balance your concerns of your finances with the growth of you faith?
- If you can purchase a new construction home through a VA loan and get a interest rate around 5%, then rent it out as an AirBnB, how can you determine if this is a good idea?
- If you realize you're getting "on in your years" and wish to give your grandson your home, should you put his name on the deed to avoid probate?
- Lewis called to tell us he had brain surgery that nearly bankrupted him but by following the principles learned in the MoneyWise/Faith&Finance program, The Lord enabled him to pay all his debts and slowly increased his credit rate where he now has a perfect credit rating and a surplus of money in his account.
- Regarding the student loan forgiveness, how do we apply that principle to the PPP loans that were abused so much?
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- We see many testimonies about God's faithfulness as our provider, that's the way God designed, not only our lives to work, but also nations, right?
- How do we apply that Biblical world view to apply to look at what's going on in the United States?
- We're about to head into a time when a lot of shareholder meeting occur, and you spend time in those meetings, give us a preview of what is heading our way?
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