Faith & Finance with Rob West
If you’re drowning in debt and someone offers a lifeline, make sure it’s not really an anchor. You have a few different options for paying off debt, but they are definitely not all equal. You have debt settlement, debt consolidation, and debt management. Neile Simon joins us today to explain the difference. Neile Simon is a Certified Credit Counselor with Christian Credit Counselors (CCC), an underwriter of Faith & Finance.

If you’re drowning in debt and someone offers a lifeline, make sure it’s not really an anchor.
You have a few different options for paying off debt, but they are definitely not all equal. You have debt settlement, debt consolidation, and debt management. Neile Simon joins us today to explain the difference.Neile Simon is a Certified Credit Counselor with Christian Credit Counselors (CCC), an underwriter of Faith & Finance.Debt consolidation is often seen as an attractive option because it combines multiple debts into one loan with an interest rate between 15% and 22%, depending on your credit score. This can make managing payments easier and allows you to keep your accounts open. However, Nearly warns that this method doesn't address spending habits, which can lead to accumulating more debt. Proverbs 13:11 reminds us:
"Wealth gained hastily will dwindle, but whoever gathers little by little will increase it."Debt settlement companies often use unethical practices, which can be very misleading. They require you to stop paying your creditors, which damages your credit and can lead to severe consequences like legal action, liens on your property, and wage garnishment.

April 29, 2026
Often Rob West is asked, “How do I cancel my credit card?" Well it is not difficult if you follow the three steps Rob sh...

April 29, 2026
How much is enough—and why does it always seem just beyond our grasp? Many people assume the answer is a number: a savi...

April 28, 2026
<p style="white-space: pre-wrap;">Key Takeaways</p><p style="white-space: pre-wrap;">Most money struggles in marriage ar...
Additionally, any amount written off is considered taxable income. Nearly emphasizes that Christians are called to repay our debts and take responsibility for our actions. Psalm 37:21 reminds us that:
© 2026 FaithFi: Faith & Finance. All rights reserved.