Christian Debt Counselors specializes in debt consolidation based on Christian principles. Although this company offers some of the lowest interest rates on debt management plans that we have seen, it hasn’t been in business for very long and lacks many key industry accreditations.
Great Interest Rates
The biggest positive about CDC is the average interest rate on its debt management plan, 6.93% which is among the lowest we’ve seen from any company. This low rate will allow clients to save bundles of cash over the high interest rates featured on most credit cards. In addition to lower interest rates, clients will also find they will be paying a lower monthly amount than they were paying before enrolled into the program. Christian Debt Counselors claims some clients have seen an up to 50 percent reduction on their monthly payment.
In addition to low interest rates, the startup fees and monthly rates are both very reasonable. Christian Debt Counselors assures clients that the upfront fees and monthly fees will not exceed $49. This makes CDC a competitive player in the debt counseling arena.
A+ BBB Rating
Although it is a relatively new company, Christian Debt Counselors holds an A+ rating from the BBB. Additionally, consumers who have left reviews for the company on the BBB website have all had positive things to say about CDC and its customer service.
- Free consultation
- Available in all 50 states
Short Time in Business
The fact that Christian Debt Counselors opened doors in 2008 makes it one of the newer companies in the industry, meaning it has less experience than most of its competitors.
The biggest drawback to the company is that it doesn’t carry any major industry accreditations, and its debt counselors don’t appear to be certified by any institution. The lack of accreditations may call into question the business practices used by the company. We would prefer to see Christian Debt Counselors hold accreditations from the major accreditors such as AICCCA or the NFCC.
Unknown Refund Policy
One of the things we like to see from companies in this industry is a refund policy. We were not able to find a refund policy from Christian Debt Counselors, which usually means there is not one offered.
Varies per case and program.
The fees for debt consolidation services are nominal and are calculated based upon the number of creditors which are enrolled in the program, the balances of your unsecured debts and the varying regulations of your residence state. You can expect to pay no more than $69 for a monthly service fee.
The initial set up fee varies by state and by program for debt consolidation. The maximum you will pay is $49.
Time In Business
8 years. Christian Debt Counselors has been helping Christian families get out of debt since 2007.
A+ Rating. There are a number of factors which the Better Business Bureau uses to rate companies. Some of these include the length of time that a business has been operating, the number of complaints, and the way that a company handles complaints or reports. The rating for Christian Debt Counselors was lowered due to the length of time in business, but raised because there have never been reports on this company or complaints filed with the Better Business Bureau.
Education is a weak point for this company. Customers could benefit from additional resources and educational tools.
On the phone, however, agents are able to explain the various laws and situations that affect your specific state and situation. This information would be helpful online or blogs, social media, etc. could help consumers learn about consumer debt and ways to get out of debt’s snare and to avoid it in the future.
Money Back Guarantee / Cancellation Policy
For the debt consolidation program, you are able to withdraw at any time and there is no penalty. The maintenance fees are paid monthly, and are simply not paid. Our advice is to get this hashed out and in writing before making a commitment to work with any debt relief company.
Unsecured vs. Secured Loans
Christian Debt Counselors can help with unsecured debt and federal student loans (However we recommend being VERY CAREFUL when paying for any federal loan services – The government offers a free consolidation program), which are two of the big areas in which most families need help.
They do not currently maintain a mobile friendly website. On a tablet, the site is viewed with little difficulty, but there is some swiping needed to see the entire page. Not optimized for They do not currently have a mobile app available for IOS or Android.
None listed on website or on other sources researched online. A contact form is available on the website to securely email representatives from Christian Debt Counselors.
400 S Dixie Hwy Suite 220
Boca Raton, FL 33432
Debt Consolidation and Debt Settlement Departments
Monday – Friday 6:30am – 8:00pm
Saturday – by appointments
Types of Services Available
Debt consolidation or credit counseling is appropriate for those people with high credit card interest rates, large medical bills and a desire to pay off their debt with a lower monthly payment. Debt consolidation or credit counseling can help raise your credit score because your payments will be made on time every month (provided you send your money to the credit counseling agency). Your interest rates can be drastically lowered as well as your monthly payments. Many people facing financial hardship select this route.
Debt consolidation is a good starting place, and is a good step to improve one’s credit during temporary difficulty. However, sometimes the leak in the dam is too big and has gone too long. In this case, it may be necessary to take steps to avoid bankruptcy. One of these is establishing a Debt settlement plan. Debt settlement can be harmful to your credit rating (although not as much as bankruptcy).
The attorneys for Christian Debt Counselors negotiate with your creditors in an attempt to lower the amount of debt that you are responsible to pay and to help you avoid bankruptcy. Creditors often accept settlements because they are aware that in bankruptcy, they will likely not receive any of the debt which you owe.
Another tool used by Christian Debt Counselors is to assist clients in putting their financial house in order is to help with student loan debt. In spite of the lower interest rates for these government loans, the debt burden can be great as families struggle to make their payments. Options such as student loan consolidation, loan forgiveness (for some borrowers) and income sensitive repayments are employed to help reduce the burden of student loan debt.
Minimum Debt Accepted
For credit counseling, the minimum debt per creditor is $300, debt settlement the total debt owed must be at least $12,000 and for federal student loans, the different programs require different totals in the number of loans, the total amount owed and the current income to qualify.
All debt management is handled by Christian Debt Counselors’ partners, so they do not offer an online dashboard to monitor debt.
Christian Debt Counselors’ financial advisors are not CPFC certified. Each advisor has financial training, but they are not required to have certain certifications.
Christian Debt Counselors is not ISO certified.
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