From expert insights on Christian debt management and financial literacy to impactful stories of debt relief, FaithWorks Financial is proud to contribute to and be recognized by publications that share our commitment to financial freedom with purpose. Explore the latest articles and interviews below to see how we’re bringing faith and finance together.
Credible- Secured vs. Unsecured Debt Consolidation Loans
by Jessica Walrack
…for borrowers experiencing financial hardship, securing a loan with a major asset like a home can add to the pressure of the debt. “Beyond rates, the decision between a secured and unsecured debt consolidation loan often comes down to two key considerations: the borrower’s financial situation and their risk tolerance,” says Josh Richner, founder at FaithWorks Financial.
CBS News- 4 low-cost ways to consolidate debt while rates are high
by Aly Yale
Another option is a debt management plan. This is when you work with a debt relief company or credit counseling agency that works with creditors on your behalf. They may negotiate lower interest rates or get certain fees waived. You then make a single monthly payment to the company, and they gradually pay down your debt for you.
Richner calls DMPs “an excellent option” if you have multiple credit card balances you want to consolidate.
MSN- 11 Money Moves You Should Make Soon To Be Ready for 2025
by Laura Beck
…FaithWorks Financial, points out a crucial step often overlooked: “The Consumer Financial Protection Bureau (CFPB) has identified and called out deceptive tactics used by companies to trap consumers into subscriptions.”
Richner advises staying vigilant about updates to credit card terms. “Some credit card issuers have updated their terms and conditions in response to economic shifts, affecting interest rates, fees and rewards structures,” he said.
Bankrate- Who Qualifies for Debt Forgiveness?
by Angela Watson
“Consumers can request debt forgiveness directly by contacting their creditors, providing detailed documentation of their financial hardship, and negotiating terms for debt relief,” says Josh Richner, Founder and Senior Debt Advisor at FaithWorks Financial.
Only certain types of debt may be eligible for forgiveness. Even then, it’s not always easy to qualify.
“Debt forgiveness should not be assumed to be readily available; it typically requires substantial proof of hardship,” says Richner. “A few months out of work may be a significant hardship to you and your household, but it doesn’t fall outside of the norm and, while they may offer a grace period, they’ll likely expect you to resume payment as soon as you are able.”
Success- Debt Management Plans: A Roadmap To Financial Freedom
by Brett Surbey
A DMP consolidates all your unsecured credit payments into a single monthly statement. This makes it much more manageable than juggling multiple statements and payments to different creditors. Instead of setting up multiple bank payees or transfers, you only need to send one payment to your credit counseling agency. “This reduces the likelihood of missed payments, which can otherwise lead to additional fees or further damage to one’s credit score,” Josh Richner, founder of FaithWorks Financial, tells SUCCESS.
AOL- 11 Money Moves You Should Make Soon To Be Ready for 2025
by Laura Beck
…FaithWorks Financial, points out a crucial step often overlooked: “The Consumer Financial Protection Bureau (CFPB) has identified and called out deceptive tactics used by companies to trap consumers into subscriptions.”
He adds that while CFPB is focused on eliminating these practices, people should regularly audit their auto-payments and subscriptions. Small, forgotten charges can accumulate over time, and can impact your budget.
Yahoo Finance- I’m a Financial Planner: 5 Things To Consider Before Buying Groceries With Your Credit Card
by Angela Mae
“If you find yourself regularly using a credit card to buy groceries out of necessity, it’s a sign that you may be overextended financially,” said Richner. “This situation demands a closer look at your overall financial health to identify and address underlying issues.”
MSN- I’m a Social Security Expert: 7 Things Americans Should Never Do With Their Checks
…the founder of FaithWorks Financial, further stressed the importance of accurately reporting any additional income, such as wages from a part-time job or freelancing, when you start collecting Social Security benefits.
“Failing to do so can lead to a reduction in your benefits or even the need to repay benefits if you exceed the earnings limit,” he said.