Neile SimonEvery podcast appearance, updated as new ones drop

Debt carries a cost beyond dollars and interest. It can steal your sleep, strain relationships, affect your health, and make the future feel uncertain. For many people, financial stress gradually becomes an emotional burden as well. But gaining clarity, seeking wise counsel, and developing a practical plan can begin to lift that weight. Neile Simon, a Certified Credit Counselor and Director of Strategic Partnerships at Christian Credit Counselors, says one of the most important things she has learned from counseling thousands of individuals and families is that debt is rarely just a financial issue. <...

Debt carries a cost beyond dollars and interest. It can steal your sleep, strain relationships, affect your health, and make the future feel uncertain. For many people, financial stress gradually becomes an emotional burden as well. But gaining clarity, seeking wise counsel, and developing a practical plan can begin to lift that weight. Neile Simon, a Certified Credit Counselor and Director of Strategic Partnerships at Christian Credit Counselors, says one of the most important things she has learned from counseling thousands of individuals and families is that debt is rarely just a financial issue. <...

Inflation has cooled from its recent highs, but for many households, the financial strain has not disappeared. Over the last several years, families have faced rising costs for groceries, insurance, housing, utilities, and other everyday needs. And for many, credit cards became the tool they used to make ends meet. Neile Simon, a Certified Credit Counselor and Director of Strategic Partnerships at Christian Credit Counselors , joins the show today to share how many families are now carrying the balances they built up during those difficult years. And with credit card interest rates often running between 22% and 30% APR, making real progress can feel almost impossible. That is where credit counseling can help. Why So Many Families Feel Stuck Many households are not dealing with credit card debt because of careless spending. In many cases, families were simply trying to stay afloat. When wages do not keep pace with rising expenses, even a well-intentioned budget can become difficult to maintain. Then, once balances accumulate, high interest makes repayment feel overwhelming. A family may make payments faithfully each month, only to see most of that money go toward interest rather than reducing the principal. For some, the pressure has increased further as student loan payments have resumed, placing added strain on budgets already stretched thin. The result is a cycle that can feel discouraging: payments continue, but the balance barely moves. The Good News: More People Are Seeking Help One encouraging trend is that financial literacy is growing. More people are becoming proactive in understanding their options, learning how debt works, and seeking responsible ways to repay what they owe. Online tools and educational resources can be helpful, especially when they explain the difference between debt management and riskier debt settlement programs. But every financial situation is unique. That is why it is wise to talk with a trained counselor who can review your specific circumstances and help you create a plan. Early action can make a significant difference. The sooner someone seeks guidance, the more options they may have. How Credit Counseling Can Help Credit counseling is designed to help people break the cycle of high-interest payments and begin making real progress. A reputable credit counseling agency can review your income, expenses, debts, and goals, then help you determine the best path forward. For many people, that may include a structured debt management plan. Through Christian Credit Counselors , for example, clients may be able to reduce credit card interest rates to between 1% and 12% APR, with rates fixed for the length of the program. That can make a major difference. Lower interest means more of each payment goes toward reducing the balance. In many cases, monthly payments may also be lowered, creating more breathing room in the budget. For those who have fallen behind, enrollment in a credit counseling program can also help stop late fees and collection calls. But most importantly, it allows clients to repay their debt responsibly and honor their commitments in full. A God-Honoring Approach to Debt At FaithFi, we appreciate credit counseling because it offers a practical and responsible way to address debt without pretending the debt does not matter. The goal is not to avoid responsibility, but to create a wise plan for repayment. That is one reason we value the work of Christian Credit Counselors . Their approach is not merely transactional. They care for the people they serve, build relationships with clients, pray with them, and seek to ease the stress and strain of credit card debt b

Inflation has cooled from its recent highs, but for many households, the financial strain has not disappeared. Over the last several years, families have faced rising costs for groceries, insurance, housing, utilities, and other everyday needs. And for many, credit cards became the tool they used to make ends meet. Neile Simon, a Certified Credit Counselor and Director of Strategic Partnerships at Christian Credit Counselors , joins the show today to share how many families are now carrying the balances they built up during those difficult years. And with credit card interest rates often running between 22% and 30% APR, making real progress can feel almost impossible. That is where credit counseling can help. Why So Many Families Feel Stuck Many households are not dealing with credit card debt because of careless spending. In many cases, families were simply trying to stay afloat. When wages do not keep pace with rising expenses, even a well-intentioned budget can become difficult to maintain. Then, once balances accumulate, high interest makes repayment feel overwhelming. A family may make payments faithfully each month, only to see most of that money go toward interest rather than reducing the principal. For some, the pressure has increased further as student loan payments have resumed, placing added strain on budgets already stretched thin. The result is a cycle that can feel discouraging: payments continue, but the balance barely moves. The Good News: More People Are Seeking Help One encouraging trend is that financial literacy is growing. More people are becoming proactive in understanding their options, learning how debt works, and seeking responsible ways to repay what they owe. Online tools and educational resources can be helpful, especially when they explain the difference between debt management and riskier debt settlement programs. But every financial situation is unique. That is why it is wise to talk with a trained counselor who can review your specific circumstances and help you create a plan. Early action can make a significant difference. The sooner someone seeks guidance, the more options they may have. How Credit Counseling Can Help Credit counseling is designed to help people break the cycle of high-interest payments and begin making real progress. A reputable credit counseling agency can review your income, expenses, debts, and goals, then help you determine the best path forward. For many people, that may include a structured debt management plan. Through Christian Credit Counselors , for example, clients may be able to reduce credit card interest rates to between 1% and 12% APR, with rates fixed for the length of the program. That can make a major difference. Lower interest means more of each payment goes toward reducing the balance. In many cases, monthly payments may also be lowered, creating more breathing room in the budget. For those who have fallen behind, enrollment in a credit counseling program can also help stop late fees and collection calls. But most importantly, it allows clients to repay their debt responsibly and honor their commitments in full. A God-Honoring Approach to Debt At FaithFi, we appreciate credit counseling because it offers a practical and responsible way to address debt without pretending the debt does not matter. The goal is not to avoid responsibility, but to create a wise plan for repayment. That is one reason we value the work of Christian Credit Counselors . Their approach is not merely transactional. They care for the people they serve, build relationships with clients, pray with them, and seek to ease the stress and strain of credit card debt b

If you’re drowning in debt and someone offers a lifeline, make sure it’s not really an anchor. When debt feels overwhelming, it’s natural to look for a way out. And there are several options that sound helpful at first: debt consolidation, debt settlement, and debt management. But while those terms are sometimes used interchangeably, they are not the same—and they can lead to very different outcomes. Neile Simon, a Certified Credit Counselor with Christian Credit Counselors (CCC) , joined the show today to explain the differences and help listeners understand which approach best reflects both financial wisdom and biblical responsibility. Debt Consolidation: A Quick Fix With Real Risks Debt consolidation is often appealing because it rolls multiple debts into one new loan. Instead of making several payments to different creditors, you make one payment on the consolidation loan. That may sound simpler and, in some cases, reduce confusion. But Neile explains that these loans often come with interest rates between 15% and 22%, depending on your credit score. And while consolidation may feel like a fresh start, it does not necessarily solve the deeper problem. The biggest risk is that consolidation allows you to keep your credit card accounts open. If spending habits don’t change, many people end up running up new credit card balances while still owing on the consolidation loan. In other words, consolidation can turn one debt problem into two. Proverbs 13:11 says, “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” Debt freedom usually doesn’t come through a quick fix. It comes through steady, faithful steps over time. Debt Settlement: A Dangerous Path Another option people often hear about is debt settlement. These companies typically promise to negotiate with creditors so you can pay less than the full amount owed. But Neile warns that debt settlement can be misleading and financially damaging. In many cases, debt settlement companies require you to stop paying your creditors. That means your credit may be severely damaged, and the impact can be almost as serious as bankruptcy. There are other consequences as well. Any forgiven debt may be treated as taxable income, and you may receive a 1099-C at the end of the tax year. In addition, after a period of nonpayment, creditors may pursue legal action, which could result in liens on property or wage garnishment, depending on your state. For Christians, there’s also a biblical concern. Psalm 37:21 says, “The wicked borrows but does not pay back.” While every situation requires wisdom and compassion, Scripture calls us to take responsibility for what we owe whenever it is in our power to do so. Debt Management: A More Faithful Way Forward Debt management is different from both consolidation and settlement. Through a credit counseling agency like Christian Credit Counselors , you can enroll in a debt management program that helps you repay your debts in full while often reducing your interest rates and monthly payments. Instead of taking out a new loan, you make a single monthly payment to the credit counseling agency, which distributes it to each creditor in the program. The goal is not to avoid the

If you’re drowning in debt and someone offers a lifeline, make sure it’s not really an anchor. When debt feels overwhelming, it’s natural to look for a way out. And there are several options that sound helpful at first: debt consolidation, debt settlement, and debt management. But while those terms are sometimes used interchangeably, they are not the same—and they can lead to very different outcomes. Neile Simon, a Certified Credit Counselor with Christian Credit Counselors (CCC) , joined the show today to explain the differences and help listeners understand which approach best reflects both financial wisdom and biblical responsibility. Debt Consolidation: A Quick Fix With Real Risks Debt consolidation is often appealing because it rolls multiple debts into one new loan. Instead of making several payments to different creditors, you make one payment on the consolidation loan. That may sound simpler and, in some cases, reduce confusion. But Neile explains that these loans often come with interest rates between 15% and 22%, depending on your credit score. And while consolidation may feel like a fresh start, it does not necessarily solve the deeper problem. The biggest risk is that consolidation allows you to keep your credit card accounts open. If spending habits don’t change, many people end up running up new credit card balances while still owing on the consolidation loan. In other words, consolidation can turn one debt problem into two. Proverbs 13:11 says, “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” Debt freedom usually doesn’t come through a quick fix. It comes through steady, faithful steps over time. Debt Settlement: A Dangerous Path Another option people often hear about is debt settlement. These companies typically promise to negotiate with creditors so you can pay less than the full amount owed. But Neile warns that debt settlement can be misleading and financially damaging. In many cases, debt settlement companies require you to stop paying your creditors. That means your credit may be severely damaged, and the impact can be almost as serious as bankruptcy. There are other consequences as well. Any forgiven debt may be treated as taxable income, and you may receive a 1099-C at the end of the tax year. In addition, after a period of nonpayment, creditors may pursue legal action, which could result in liens on property or wage garnishment, depending on your state. For Christians, there’s also a biblical concern. Psalm 37:21 says, “The wicked borrows but does not pay back.” While every situation requires wisdom and compassion, Scripture calls us to take responsibility for what we owe whenever it is in our power to do so. Debt Management: A More Faithful Way Forward Debt management is different from both consolidation and settlement. Through a credit counseling agency like Christian Credit Counselors , you can enroll in a debt management program that helps you repay your debts in full while often reducing your interest rates and monthly payments. Instead of taking out a new loan, you make a single monthly payment to the credit counseling agency, which distributes it to each creditor in the program. The goal is not to avoid the

What do Bigfoot and credit reports have in common? They’re both surrounded by myths. While we may never settle the question of an eight-foot-tall creature wandering the woods, we can clear up the confusion around credit reports. On this episode of Faith & Finance , Neile Simon, a Certified Credit Counselor with Christian Credit Counselors , stops by to clear up some of the most common misconceptions about credit reports and credit scores. Understanding how credit really works can help you avoid costly mistakes and make wiser financial decisions. Myth #1: Paying Off Debt Instantly Fixes Your Credit Paying down debt is always a good step—but it doesn’t instantly produce a perfect credit score. A credit score reflects your history of borrowing and repayment. Lenders use it as a snapshot of how responsibly you’ve managed credit over time. That means improvement takes patience. The most important habit is simple: consistently pay your bills on time. Over time, that steady pattern will strengthen your credit profile. And beware of anyone claiming they can “fix your credit overnight.” Building good credit always takes time. Myth #2: Credit Counseling Ruins Your Credit Score Many people fear that seeking help will damage their credit—but that’s not true. Participating in a credit counseling program is considered a neutral mark on your credit report. What can affect your score is closing accounts, not the counseling itself. In fact, nonprofit credit counseling agencies often help people regain control of their finances through structured debt management plans. If you seek help, make sure the organization is accredited and nonprofit. That’s why Christian Credit Counselors is the only organization we recommend for credit counseling and debt management. Myth #3: Canceling Credit Cards Boosts Your Score Closing credit cards may seem responsible, but it can actually lower your credit score. Why? Because it reduces your available credit, which increases your credit utilization ratio—a key factor in credit scoring. If you have credit cards with zero balances and no annual fees, keeping them open can actually help your score. If you must close accounts, do it gradually—perhaps one every six months—to minimize the impact. Myth #4: Too Many Inquiries Hurt Your Score This myth was once more accurate than it is today. Credit bureaus now recognize that consumers shop for loans. If you’re applying for a mortgage or car loan, multiple inquiries within a short window—typically about 45 days—are counted as a single inquiry. That means you can compare offers without damaging your credit score. And when it comes to checking your own credit report, that’s considered a soft inquiry, which does not affect your score at all. In fact, it’s wise to check your credit regularly to monitor for fraud or mistakes. Myth #5: You Don’t Need to Check Your Credit If You Pay Bills on Time Even responsible borrowers should check their credit reports. Studies suggest that a large percentage of credit reports contain errors. Reviewing your report once or twice a year allows you to catch mistakes or fraudulent activity early.

What do Bigfoot and credit reports have in common? They’re both surrounded by myths. While we may never settle the question of an eight-foot-tall creature wandering the woods, we can clear up the confusion around credit reports. On this episode of Faith & Finance , Neile Simon, a Certified Credit Counselor with Christian Credit Counselors , stops by to clear up some of the most common misconceptions about credit reports and credit scores. Understanding how credit really works can help you avoid costly mistakes and make wiser financial decisions. Myth #1: Paying Off Debt Instantly Fixes Your Credit Paying down debt is always a good step—but it doesn’t instantly produce a perfect credit score. A credit score reflects your history of borrowing and repayment. Lenders use it as a snapshot of how responsibly you’ve managed credit over time. That means improvement takes patience. The most important habit is simple: consistently pay your bills on time. Over time, that steady pattern will strengthen your credit profile. And beware of anyone claiming they can “fix your credit overnight.” Building good credit always takes time. Myth #2: Credit Counseling Ruins Your Credit Score Many people fear that seeking help will damage their credit—but that’s not true. Participating in a credit counseling program is considered a neutral mark on your credit report. What can affect your score is closing accounts, not the counseling itself. In fact, nonprofit credit counseling agencies often help people regain control of their finances through structured debt management plans. If you seek help, make sure the organization is accredited and nonprofit. That’s why Christian Credit Counselors is the only organization we recommend for credit counseling and debt management. Myth #3: Canceling Credit Cards Boosts Your Score Closing credit cards may seem responsible, but it can actually lower your credit score. Why? Because it reduces your available credit, which increases your credit utilization ratio—a key factor in credit scoring. If you have credit cards with zero balances and no annual fees, keeping them open can actually help your score. If you must close accounts, do it gradually—perhaps one every six months—to minimize the impact. Myth #4: Too Many Inquiries Hurt Your Score This myth was once more accurate than it is today. Credit bureaus now recognize that consumers shop for loans. If you’re applying for a mortgage or car loan, multiple inquiries within a short window—typically about 45 days—are counted as a single inquiry. That means you can compare offers without damaging your credit score. And when it comes to checking your own credit report, that’s considered a soft inquiry, which does not affect your score at all. In fact, it’s wise to check your credit regularly to monitor for fraud or mistakes. Myth #5: You Don’t Need to Check Your Credit If You Pay Bills on Time Even responsible borrowers should check their credit reports. Studies suggest that a large percentage of credit reports contain errors. Reviewing your report once or twice a year allows you to catch mistakes or fraudulent activity early.

The holidays are meant to be a season of joy, generosity, and gratitude. Yet for many families, the celebrations come with a heavy dose of financial stress—stress that lingers long after the decorations are packed away. Our desire to bless others often leads to spending more than we planned. But it doesn’t have to be that way. Recently, we sat down with Neile Simon, Certified Credit Counselor and Director of Strategic Partnerships at Christian Credit Counselors , to talk about how families can give meaningfully, stay within their means, and refocus on what Christmas is truly about. Creating a Realistic Holiday Plan Most people enter the holiday season with the best of intentions. We want to show love, bless others, and create special memories. But somewhere along the way, those intentions can derail. Neile explains that a mix of cultural pressures makes overspending almost effortless: holiday sales, credit card offers at checkout, “buy now, pay later” deals, and social media’s endless highlight reels. Before long, the drive to be generous morphs into the belief that we must spend more to prove how much we care. And the consequences last far beyond December—financial stress, increased debt, and a January filled with regret rather than joy. The good news: overspending isn’t inevitable. Neile suggests starting early and planning intentionally. 1. Decide what you can truly afford. Account for all holiday expenses—gifts, food, travel, entertainment, and even small traditions that add up. 2. Set a total spending limit. Let this number guide every decision throughout the season. 3. Use cash or debit when possible. “When the money’s gone, you’re done—and that’s okay,” Neile says. This simple boundary protects you from impulse spending. 4. If using credit cards, treat them as tools—not the enemy. Used wisely, they can help you track your spending. The key is to stay disciplined and avoid taking on debt you can’t comfortably repay. Ultimately, a budget is not a restriction—it’s a path to freedom. It helps you enjoy the season without dreading the bill that arrives in January. Meaningful Giving Without Overspending Generosity isn’t measured by price tags. In fact, the most meaningful gifts are often the simplest. Neile encourages families to focus on personal, relational giving: Handwritten notes Homemade treats Shared experiences Thoughtful, small gifts with clear intention Her own family keeps gift-giving fun by setting spending limits and doing a white-elephant exchange. “It takes the pressure off,” she says, “and turns gift-giving into shared laughter and memory-making.” When togetherness becomes the priority over possessions, Christmas becomes both more joyful and more affordable. If You’re Already in Debt, There’s Hope For families already carrying debt, Christmas can feel like a tug-of-war between generosity and financial reality. Neile offers this encouragement: give within your means—even if it means scaling back. Why? Because responsible giving protects your finances, your peace, and your future. “Think of it this way,” Neile says. “A relaxed, stress-free January is far better than stressing out after overspending in December.” Scaling back isn’t failure—it’s stewardship. And it models wisdom and faithfulness for your children. Refocusing on the True Meaning of Christmas Amid the lights, the gifts, and the traditions, it’s easy to lose sight of the heart of Chri

The holidays are meant to be a season of joy, generosity, and gratitude. Yet for many families, the celebrations come with a heavy dose of financial stress—stress that lingers long after the decorations are packed away. Our desire to bless others often leads to spending more than we planned. But it doesn’t have to be that way. Recently, we sat down with Neile Simon, Certified Credit Counselor and Director of Strategic Partnerships at Christian Credit Counselors , to talk about how families can give meaningfully, stay within their means, and refocus on what Christmas is truly about. Creating a Realistic Holiday Plan Most people enter the holiday season with the best of intentions. We want to show love, bless others, and create special memories. But somewhere along the way, those intentions can derail. Neile explains that a mix of cultural pressures makes overspending almost effortless: holiday sales, credit card offers at checkout, “buy now, pay later” deals, and social media’s endless highlight reels. Before long, the drive to be generous morphs into the belief that we must spend more to prove how much we care. And the consequences last far beyond December—financial stress, increased debt, and a January filled with regret rather than joy. The good news: overspending isn’t inevitable. Neile suggests starting early and planning intentionally. 1. Decide what you can truly afford. Account for all holiday expenses—gifts, food, travel, entertainment, and even small traditions that add up. 2. Set a total spending limit. Let this number guide every decision throughout the season. 3. Use cash or debit when possible. “When the money’s gone, you’re done—and that’s okay,” Neile says. This simple boundary protects you from impulse spending. 4. If using credit cards, treat them as tools—not the enemy. Used wisely, they can help you track your spending. The key is to stay disciplined and avoid taking on debt you can’t comfortably repay. Ultimately, a budget is not a restriction—it’s a path to freedom. It helps you enjoy the season without dreading the bill that arrives in January. Meaningful Giving Without Overspending Generosity isn’t measured by price tags. In fact, the most meaningful gifts are often the simplest. Neile encourages families to focus on personal, relational giving: Handwritten notes Homemade treats Shared experiences Thoughtful, small gifts with clear intention Her own family keeps gift-giving fun by setting spending limits and doing a white-elephant exchange. “It takes the pressure off,” she says, “and turns gift-giving into shared laughter and memory-making.” When togetherness becomes the priority over possessions, Christmas becomes both more joyful and more affordable. If You’re Already in Debt, There’s Hope For families already carrying debt, Christmas can feel like a tug-of-war between generosity and financial reality. Neile offers this encouragement: give within your means—even if it means scaling back. Why? Because responsible giving protects your finances, your peace, and your future. “Think of it this way,” Neile says. “A relaxed, stress-free January is far better than stressing out after overspending in December.” Scaling back isn’t failure—it’s stewardship. And it models wisdom and faithfulness for your children. Refocusing on the True Meaning of Christmas Amid the lights, the gifts, and the traditions, it’s easy to lose sight of the heart of Chri

Many student loan borrowers are falling behind again, and the impact is more than financial. A recent change in federal law has reshaped student loan repayment, and as collections ramp back up, millions are seeing their credit scores drop. If you’re feeling the weight of repayment, you’re not alone. Neile Simon joins us today with practical steps to help you regain control. Neile Simon is a Certified Credit Counselor with Christian Credit Counselors (CCC) , an underwriter of Faith & Finance . Major Changes in Federal Student Loan Repayment In early July, sweeping legislation restructured federal student loan repayment options. Borrowers now face only two choices: Standard Repayment Plan: Lasting 10 to 25 years Repayment Assistance Plan (RAP): A 30-year plan with payments based on 1% to 10% of the borrower’s income, with a minimum of $10 per month While RAP may seem like a helpful tool, the new law eliminated borrower-friendly plans such as the SAVE plan and many income-driven repayment options. For borrowers who are unemployed or experiencing hardship, this is a significant loss. The end of pandemic-era protections, including deferments, has left many unprepared and falling behind. Adding to the challenge, federal collections resumed on May 5, signaling a firm end to COVID-19 relief. The result? A wave of financial instability. The Credit Score Crisis The fallout from these changes has been swift and painful. According to AP News , in the first quarter of this year alone: Over 2.2 million borrowers experienced a credit score drop of more than 100 points. Over 1 million borrowers experienced a decrease of more than 150 points. This sharp decline has made it difficult for individuals to secure new credit. Car loans, mortgages, and even rental approvals are now being denied. With limited disposable income, many are forced to choose between paying rent, student loans, or credit cards. More people are relying on credit cards just to cover essentials like groceries and gas. It’s a cycle that only deepens their debt and financial stress. How Credit Counseling Can Help While Christian Credit Counselors doesn’t directly manage student loans, they play a vital role for those overwhelmed by mounting credit card balances. Neely explains how nonprofit credit counseling agencies bring clarity and relief: One-on-One Counseling: Certified counselors review your debt, income, and budget Debt Management Plan (DMP): Unsecured debts are consolidated into a single monthly payment Creditor Negotiation: Lowered interest rates (often between 1% and 12%), reduced monthly payments, and elimination of late fees Commitment to Repayment: This is not a loan, bankruptcy, or debt settlement. You repay your full debt—just through a simplified plan. It’s a way to honor your commitments while regaining control. And once enrolled, your interest rates remain fixed throughout the program. If you're feeling weighed down by debt, don’t wait. Take an honest look at your budget, explore your options, and don't

Many student loan borrowers are falling behind again, and the impact is more than financial. A recent change in federal law has reshaped student loan repayment, and as collections ramp back up, millions are seeing their credit scores drop. If you’re feeling the weight of repayment, you’re not alone. Neile Simon joins us today with practical steps to help you regain control. Neile Simon is a Certified Credit Counselor with Christian Credit Counselors (CCC) , an underwriter of Faith & Finance . Major Changes in Federal Student Loan Repayment In early July, sweeping legislation restructured federal student loan repayment options. Borrowers now face only two choices: Standard Repayment Plan: Lasting 10 to 25 years Repayment Assistance Plan (RAP): A 30-year plan with payments based on 1% to 10% of the borrower’s income, with a minimum of $10 per month While RAP may seem like a helpful tool, the new law eliminated borrower-friendly plans such as the SAVE plan and many income-driven repayment options. For borrowers who are unemployed or experiencing hardship, this is a significant loss. The end of pandemic-era protections, including deferments, has left many unprepared and falling behind. Adding to the challenge, federal collections resumed on May 5, signaling a firm end to COVID-19 relief. The result? A wave of financial instability. The Credit Score Crisis The fallout from these changes has been swift and painful. According to AP News , in the first quarter of this year alone: Over 2.2 million borrowers experienced a credit score drop of more than 100 points. Over 1 million borrowers experienced a decrease of more than 150 points. This sharp decline has made it difficult for individuals to secure new credit. Car loans, mortgages, and even rental approvals are now being denied. With limited disposable income, many are forced to choose between paying rent, student loans, or credit cards. More people are relying on credit cards just to cover essentials like groceries and gas. It’s a cycle that only deepens their debt and financial stress. How Credit Counseling Can Help While Christian Credit Counselors doesn’t directly manage student loans, they play a vital role for those overwhelmed by mounting credit card balances. Neely explains how nonprofit credit counseling agencies bring clarity and relief: One-on-One Counseling: Certified counselors review your debt, income, and budget Debt Management Plan (DMP): Unsecured debts are consolidated into a single monthly payment Creditor Negotiation: Lowered interest rates (often between 1% and 12%), reduced monthly payments, and elimination of late fees Commitment to Repayment: This is not a loan, bankruptcy, or debt settlement. You repay your full debt—just through a simplified plan. It’s a way to honor your commitments while regaining control. And once enrolled, your interest rates remain fixed throughout the program. If you're feeling weighed down by debt, don’t wait. Take an honest look at your budget, explore your options, and don't

What do Bigfoot and credit reports have in common? They’re each the subject of many myths. We don’t know much about 8-foot furry creatures, but we can dispel some of the folklore about credit and credit reports. Neile Simon is here to help us do that today. Neile Simon is a Certified Credit Counselor with Christian Credit Counselors (CCC) , an underwriter of Faith & Finance . If you've ever wondered whether closing a credit card boosts your score or if credit counseling hurts your credit, you're not alone. Let's dive into these common misconceptions and separate fact from fiction. Myth #1: Paying Off Debt Instantly Improves Your Credit Score It’s a common belief that paying down debt will immediately result in a perfect credit score. However, credit improvement takes time because credit scores are based on your payment history. Reality: Your credit report gives lenders a snapshot of how responsibly you've managed debt over time. Consistently paying bills on time is the best way to build and maintain a strong score—but it won’t happen overnight. Tip: Be cautious of anyone claiming they can “fix” your credit instantly. No legitimate company can erase negative (but accurate) information from your credit history overnight. Myth #2: Credit Counseling Destroys Your Credit Score Many people worry that seeking credit counseling will harm their credit score. Reality: Enrolling in a credit counseling program is a neutral mark on your credit report and does not directly affect your score. Closing accounts impacts your score, so working with an accredited nonprofit organization is essential to develop a plan that keeps your credit intact. That’s why Christian Credit Counselors is the only organization we recommend for credit counseling and debt management. Tip: Avoid paying for expensive credit monitoring or identity protection services. You can monitor your credit for free through reputable sources. Myth #3: Canceling Credit Cards Boosts Your Score Many people believe that closing old or unused credit cards is a responsible move, but it can actually hurt their credit scores. Reality: Lenders want to see two or three active credit lines. Closing credit cards reduces your available credit, which can negatively impact your score by increasing your credit utilization ratio (the percentage of available credit you're using). Tip: Keep zero-balance accounts open unless they charge an annual fee. If you must close an account, do so gradually—perhaps one every six months—to minimize the temporary impact on your score. Myth #4: Too Many Inquiries Hurt Your Score While excessive hard inquiries (when lenders check your credit for a loan or credit card application) can lower your score, not all inquiries count against you. Reality: Credit bureaus recognize rate shopping—for example, when you're comparing mortgage or auto loan rates. If you make multiple inquiries within a 45-day window, they count as one single inquiry, not multiple. Tip: Always shop around for the best loan terms without worrying about multiple hits to your credit score. Myth #5: Checking Your Own Credit Report Hurts Your Score Many consumers avoid

At this time of year, many people hate going to the mailbox or checking their email. That’s because the Christmas bills are starting to roll in. Yes, the holidays are behind us, but for many people, burgeoning credit card balances are just ahead. If you think you’ll have trouble making those payments, Neile Simon is here with a plan to help you get out of debt. Neile Simon is a Certified Credit Counselor with Christian Credit Counselors (CCC) , an underwriter of Faith & Finance . The Growing Problem of Credit Card Debt Credit card debt has surpassed $1.16 trillion, marking a 50% increase in just three and a half years. By 2024, the average credit card debt for individuals carrying unpaid balances reached $7,200. Rising costs due to inflation have pushed many to rely on credit cards just to get by. This growing burden isn’t just financial—it also creates fear, anxiety, and helplessness. These feelings do not come from God. Recognizing the seriousness of the situation is the first step toward finding freedom from debt. Do You Need Credit Counseling? If you’re struggling with credit card debt, it’s essential to ask for help. Neely recommends reaching out for credit counseling if: You have an unpaid balance of more than $4,000. You’re struggling to keep up with minimum payments. You feel stuck, making payments with little progress. Debt is causing you stress or sleepless nights. Christian Credit Counselors can provide guidance and support to help you regain control of your finances. Why Choose Debt Management Over Debt Settlement? Christian Credit Counselors take a debt management approach, which differs significantly from debt settlement or consolidation. Here’s how it works: Pre-Negotiated Terms: They work with creditors to lower your interest rates (ranging from 1–12% APR) and monthly payments. Debt Snowball Method: Payments are structured to help you get out of debt up to 80% faster, all while honoring your debt in full. Customizable Enrollment: You can choose which accounts to enroll in, and the accounts included will be closed during the program. Free Budgeting Support: Counselors help you create a budget, identify areas to cut back, and understand your disposable income. This approach focuses on integrity and honoring your commitments while providing a clear path to financial freedom. The Biblical Foundation for Debt Management Managing debt isn’t just about financial freedom—it’s also a way to honor God. Neely emphasizes the importance of aligning debt repayment with biblical values. Romans 13:7-8 encourages believers: “Give to everyone what you owe them … Let no debt remain outstanding, except the continuing debt to love one another.” Through debt management, Christians can fulfill their financial responsibilities, honor their commitments, and live generously, reflecting God’s principles. Take the First Step Toward Free

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: A Quick Fix with Hidden Dangers 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: Misleading and Risky 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. 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: "The wicked borrows but does not pay back." Debt Management: A Biblical and Effective Solution Debt management, offered by Christian Credit Counselors , is our preferred method for getting out of debt. This program allows you to honor your debt in full while reducing payments and interest rates. Payments are consolidated into one monthly payment made through the counseling service. Though the accounts enrolled in the program are closed by creditors, you are not required to enroll all accounts. Interest rates on this program range from 1% to 12% APR, enabling you to pay off debt 80% faster. Proverbs 3:27 states: "Do not withhold good from those to whom it is due, when it is in your power to do it." Christian Credit Counselors not only provide a practical solution but also offer a biblical approach, including prayer and encouragement throughout the process. For those seeking a trustworthy partner in their debt repayment journey, you can visit: ChristianCreditCounselors.org. On Today’s Program, Rob Answers Listener Questions: I'm hearing that people are getting scammed out of the money in their bank accounts. Is online banking safe? I have about $5,000 left over after paying for my husband's funeral and buying a headstone. I've kept it in a money market checking account, but it isn't making much. Should I move it somewhere else to get it to grow more, like a high-yield savings account? I want this money to be a rainy day/emergency fund, but I also want it to earn a decent interest rate. I have six kids at home, o

The data shows that personal debt is rising, and folks are worried about their financial future. So what’s the solution? We can’t control some things, like inflation and a slowing economy. But we can do some things—especially when managing and eliminating debt. Neile Simon joins us today to discuss the solution to fretting over finances. Neile Simon is a Certified Credit Counselor with Christian Credit Counselors (CCC) , an underwriter of Faith & Finance . Understanding The Financial Storm With credit card debt at an all-time high, the GDP falling, and a disappointing jobs report, it’s a perfect storm for financial stress. Debt is a common part of life, but it becomes a significant issue when it consumes our lives. Christian Credit Counselors is here to help, emphasizing that financial challenges shouldn't be faced alone. We must discuss our finances and reduce the stigma around debt because many experience it. Often, guilt and shame prevent us from seeking the help we need. The Extent of Financial Worries A 2024 survey by the Wells Fargo Foundation highlights the extent of financial worry among Americans: 61% feel that most improvements in the U.S. economy don’t benefit people like them. 55% agree that economic uncertainty makes achieving long-term financial goals impossible. 39% are concerned their money won’t last, and 24% feel they will never have the things they want due to their financial situation. 31% don’t pay all their bills on time, and only 42% have a budget and track spending. The top financial concern remains to be a lack of savings. Steps to Financial Freedom Here are some practical steps to move from an uncertain financial future to a secure and stable tomorrow: Get Out of Debt: Connect with a certified credit counseling company to reduce payments and interest rates, allowing you to get out of debt 80% faster while honoring your debt in full. Spend Less Than You Make: Focus on saving and creating a financial cushion. Experience Peace: Achieve financial peace that enables you to give generously and find contentment. Christian Credit Counselors offers free and confidential consultations to educate you on your options, provide a comparison estimate outlining all the program's benefits and fees, and help you create a budget and plan to get out of debt. They aim to empower and encourage you to make a plan together. By taking proactive steps and seeking help, you can find a path to financial freedom and peace. On Today’s Program, Rob Answers Listener Questions: My question was about clarifying the capital gains tax exemption requirements for selling a primary residence. Specifically, I wanted to know if the five years of ownership required to qualify for the exemption had to be the most recent five years or if there were any exceptions to that timeframe. What should I do with the $30,000 to $50,000 profit I expect to make from selling my house? Since I plan to move to senior housing, I want advice on making that profit work for me, such as investing it for retiremen

This week on the Crown Stewardship Podcast, we welcome Neile Simon , with Christian Credit Counselors . Neile and the team at CCC help people with debt management and avoid bankruptcy and debt settlement scams. Neile joins us to talk about credit scores: what they are, why they are important, and what to do if yours is less than ideal. Neile offers practical advice and guidance, and you’ll be encouraged by hearing her passion for helping people thrive financially.

This week on the Crown Stewardship Podcast, we welcome Neile Simon , with Christian Credit Counselors . Neile and the team at CCC help people with debt management, avoid bankruptcy, debt settlement scams, and quick fixes that ruin credit. While most people feel uneasy when talking about debt, Neile exudes joy because of her passion for helping people find relief through CCC’s debt management program. Neile talks about how the current economy has impacted many people in the way they are paying off or taking on debt. If you have felt overwhelmed by debt, you’ll feel encouraged and hopeful by listening to this episode.