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Q. We have really good credit. But, yesterday I got notification that my interest rate has almost doubled on a credit card and our minimum payment has doubled, too. We can't afford to double our monthly payment amount. So how are Christians supposed to keep away from lots of debt with all this going on even with good, honest people?
Rise of Beastly Gangster Banksters
I heard one financial advisor refer to this problem as the rise of the beastly "gangster banksters." Isn't that the truth? It makes no sense because by raising rates on their best customers banks and credit service providers are insuring that more people will default on credit payments. It's a vicious cycle.
Credit Required for Services
For several years we have advised our readers to get out of debt as soon as possible and not to incur huge amounts owed on credit cards. But, this advice has become almost impossible to follow - even for us.
Dental and medical groups insist patients pay by credit card if they want necessary - even life-saving - services. People in line at grocery stores become irritated and impatient with those who still write checks. Purchasing anything online requires the use of credit cards. Auto bill features are preferable when paying for things like satellite or cable services and other monthly utility bills.
In response to this many citizens have turned to debit cards which only allow you to use what is available in your account. But, not everyone accepts these, and paying for high-cost medical services won't work with debit cards, either.
If you are hit with double payments and much higher interest rates you might try appealing to the issuer for "hardship" needs. Sometimes they will work with customers by keeping rates low but refusing any further purchases from you.
Whatever you do don't respond to any of the so-called debt negotiation firms that repeatedly leave messages on your phone and over the internet. Those are the ones who claim they can reduce your balances by half. They usually advise customers to quit paying off balances so they can negotiate a hard deal with the banks and credit issuers.
Understand that these are true con artists who take an upfront fee from you but cause your credit score and credit worthiness to go down the tubes! Banks don't even accept their calls anymore. They are aware of these scam artists and won't work with them.
We are not financial advisors. So if you need professional help try the NFCC.org. This is the National Foundation for Credit Counseling. They're legitimate and may possibly give good advice and offer contacts in your area.
Another website for decent advice is Clark Howard.com. Mr. Howard appears on CNN, has authored several good books, and is polite to callers while offering legitimate and ethical solutions to finance problems.
The Black Horse
As Christians we must try to work out ethical solutions to money problems. But, it seems like we have entered a "ruthless" period where our times may be leading to the "black horse" of Revelation 6:5. During this period the apostle John heard the rider say,
"A quart of wheat for a denarius, and three quarts of barley for a denarius, and do not harm the oil and wine!" (Rev. 6:6, ESV).
A denarius was a day's wage. So the middle-class bread-winner can barely pay for feeding himself, let alone for feeding his family and paying rent, college tuition, or other fees.
This is a period of high inflation if not hyperinflation. Survival is at risk in this environment. Workers will have to spend everything they earn just to provide their own meals. Anything more, like oil or wine, will be luxuries.
One World Governance, Currency&I.D.
Of course, all of this is leading up to one-world governance, a one-world currency, and an I.D. mark required of all global citizens to buy or purchase necessary goods. (See Revelation chapter 13).
It isn't difficult to imagine this coming to pass soon in the middle of our current global financial crises. To fight these developments we need to pay off our debts as soon as possible when possible, lower our living standards, and become dependent upon God for all of our needs.
A word to the wise…don't assume you will be raptured out of severe financial difficulties. The rapture or second coming may come later than you think.
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