For many of you, the best first step to financial freedom might be tackling your debt. That’s why I brought in an absolute expert on debt elimination, my good friend Josh Valentine.
The Debt Expert With Billion-Dollar Results
Josh Valentine is no ordinary financial advisor. Over the past 12 years, he’s helped more than 30,000 people address their debt issues, eliminating almost a billion dollars in debt for his clients. That’s right – a billion dollars.
I first met Josh several years ago through mutual friends, and he later joined my Bible study. Over time, I’ve come to deeply respect his expertise and approach to debt elimination. He’s now helping many of my friends, clients, and students overcome their debt challenges.
How God Led Josh Into Debt Advocacy
Josh’s journey into debt assistance wasn’t planned. Back in 2011, he was doing affiliate marketing and running a consulting company with a partner, helping businesses build their online presence. It was a “feast or famine” type of business.
One day, his wife suggested he look for a job. Though unfamiliar with traditional employment, Josh prayed about it and searched online. He found a position for someone to become the CEO of a company in Carlsbad, California that helped people with credit card debt.
While that specific opportunity didn’t work out, it connected Josh with Jerry McTaggart, and together they launched another company in the debt space. Josh realized that unsecured debt—particularly high-interest credit cards and personal loans—is the biggest financial liability for most Americans.
“We have a culture of people who are really okay just staying in debt, paying their minimums, sometimes for decades,” Josh explained. His mission became clear: helping people shift their mindset about debt.
The Biblical Perspective on Debt
One fascinating insight Josh shared was how many Christians struggle with the concept of having abundance but don’t struggle with having debt. The mindset around debt has been conditioned by predatory institutions.
Josh points to Proverbs 22:7, a commonly quoted verse: “The rich rules over the poor, and the borrower is servant to the lender.” But he notes that the verse just before it (Proverbs 22:6) says, “Train up a child in the way he should go, and when he is old, he will not depart from it.” This highlights how debt habits are generational and learned.
The Credit Score Myth
Perhaps the most eye-opening part of our conversation was about credit scores. Many people avoid addressing their debt because they’re worried about hurting their credit score. Josh calls this brilliantly architected system “designed to reward the wrong behavior and specifically keep people in debt.”
“Your credit score comes back to your pride and ego,” Josh explained. “People will sit with $70,000 in maxed-out credit card debt, burning an ungodly amount of money in interest, not going anywhere because it compounds daily… They’ll stay in that boat and feel good about it.”
The truth? Your credit score is only good for one thing: getting you into more debt.
“People don’t have a credit score problem. They have a debt problem,” Josh emphasized.
What Happens When You Ignore Debt
Waiting too long to address debt can lead to serious consequences. While unsecured debt has no asset that creditors can take, credit card companies can and will sue you. If you ignore a summons, you’ll get a default judgment against you, allowing courts to:
- Garnish your wages
- Put liens on your bank accounts
- Put liens on your home
Josh warned that credit card debt is no longer dischargeable in bankruptcy—a relatively recent change pushed by financial institution lobbyists.
How Debt Settlement Actually Works
When working with Josh’s company, they start communicating with creditors immediately, letting them know you’re entering an active debt settlement program. Banks are actually okay with settlement because:
- They settle billions of dollars in debt every year
- They get a tax write-off for what they forgave
- They receive insurance payouts up to three times the amount they forgave
“Banks are like casinos—they cannot lose,” Josh noted.
The settlement process creates a win-win: banks get paid, and people get out of debt. Instead of paying $900 monthly minimums on $30,000 of debt for 20 years (ending up paying $70,000-$80,000 total), you might pay $600 a month for four years and settle for around $22,000 total.
And about that credit score? Yes, it may temporarily dip, but once the debt is paid off, your financial profile becomes stronger. You’ll have zero unsecured debt and better cash flow, making you a more attractive lending candidate despite a potentially lower score.
Josh put it bluntly: “If you are unable to get out of your credit card debt within six months, no question, zero questions about it, you should be settling your debt.”
Common Mistakes to Avoid
Josh also mentioned some common mistakes people make when dealing with debt:
- Using a Home Equity Line of Credit (HELOC) to pay off unsecured debt, turning it into secured debt tied to your home
- Taking “consolidation loans” that often carry high interest and leave credit cards open to rack up more debt
- Waiting until you’re being sued before taking action
- Trying to negotiate settlements yourself without understanding the timelines (creditors typically want payment in 90 days)
Take Action Now
Now is the perfect time to break free from financial bondage. If you’re carrying high-interest unsecured debt, don’t let more time pass by paying just the minimums. A debt settlement program might be your path to freedom.
