Today on MoneyLife with Chuck Bentley

Email Chuck at ChuckBentley@Crown.org.

I owed a credit card company some money, and because I couldn’t pay the debt was turned over to collection.  And now, a law suit has been filed against me.  What should I do?  I have never been to court before, and I don't any money for a lawyer. – Claudet in Lutz, Florida

You’re in a difficult position. The Bible says to try not to let disputes or outstanding bills go to court, so always make the effort to settle, be aggressive but take the high road. Try to keep a company from having to take you to collection. If you don’t have any money, consider going to a family member for help. Credit card companies prefer to settle, even if it is for less than they’re owed. Run to your creditor, not away, and always be honest.

I am married to an ungodly man who has been very immoral.  I have been forced to stay with him financially because my small business has dried up. I pray daily that God will provide me the means to be able to survive on my own.  What would God have me to do?  Does He want me to stay yoked to an unbeliever who is mean?  Is God providing for me through him? – Jenna in Seaville, New Jersey

I'm sorry to hear about your difficult circumstances. My heart goes out to you. I often hear from women who feel trapped by their financial circumstances. If there’s physical abuse, you need to leave your husband, perhaps stay with family, but get help. Don’t seek a divorce, encourage counseling, and make efforts to reconcile. If you’re husband has committed adultery, the Bible is clear that you can be released from your vows and get out of the marriage (1 Corinthians 7:14-16). If there’s no physical abuse or adultery, I encourage you to remain with your husband and seek to win him to Christ through your own witness and testimony. Don’t let financial circumstances dictate your decision, follow God’s Word. We’ll be praying for you.

I want to invest in large, financially healthy companies that follow God’s standards and don’t funnel money to radical organizations.  How do I find them? – James in Mount Crawford, Virginia

Rusty Leonard is the founder of Stewardship Partners, a company that invests in portfolios that offer the best combination of long-term capital appreciation potential with strong Biblical values so clients can be assured that their Christian worldview is reflected in how they invest their dollars. You can also google “Biblically-based investing.”

How much money can you receive from someone as a gift before having to declare it as income and pay taxes on it? – Karen in Orrstown, Pennsylvania

In 2009, you can receive up to $13,000 in cash and property from any individual tax free. If someone gives you more than that, you’ll have to pay taxes the amount above $13,000.

We are adopting 4 children from Africa, but we don’t have the funds to cover the adoption expenses plus the 12 passenger van we will need. We truly believe the Lord is calling us to do this, so is it wrong to take out a loan for this?  We would have to borrow $60,000 cash, but we will get a large portion of that back thru tax refunds and company help. – Cyndee in Charlestown, Idaho

I admire your desire to adopt; it shows you have a great heart. I believe if God wants you to adopt, He will provide a way to for it without using debt. Visit Show Hope and Cry of the Orphan. Go to your church family and extended family, share the need, and ask them to pray with you about it. Someone may want to help meet the need. Adoption is on God’s heart, He wants us to do it. He will move and it will be neat to see what He does.

I’m really concerned about my parent's finances. They are $200,000 in debt and are considering bankruptcy.  But they have a second mortgage and could lose their house if they declare bankruptcy. My dad still is working at age 64. My mom is unable to work. I have told my parents they shouldn’t do bankruptcy.  What advice would you give them? – Hannah in Royal, Illinois

If the debt includes the home, they may be able to refinance. They should adjust their budget to live within their means. If it doesn’t include the mortgage, they probably need to sell the house and move to more affordable place. Help them get on a budget. Refer them to a Crown Money Map Coach who will help them take control of their finances. Let them know you’ll be praying for them and asking God to intervene. I agree, I wouldn't want them to go through bankruptcy either.

Does requesting a decrease in your credit line cause damage to your credit score? – Steven in Williamston, South Carolina

Requesting a decrease can affect your credit rating, but it doesn’t usually drop your score significantly. There are many other factors in calculating the score. Creditors want to see that you are using 10-20% of your available credit and paying it off regularly and on time. That's not a bad idea; it's a sign of good financial health.

We paid off and closed all our credit cards.  But we have received a letter from a law firm saying we owe $6,720 on a credit card we haven’t had for almost 5 years.  There is no proof that we owe this.  We don’t have any records on the account, because we burn everything after 3 years.  What should we do? – Larry in Manton, Michigan

Get a free copy of your credit report from AnnualCreditReport.com. Get one from each reporting agency each year. If you spread them out, you can check your report three times a year. When you get your credit report, see if the debt is listed as outstanding. If it’s not on any of the credit reports, tell the company it’s no longer collectible, and move on. Sometimes companies try to scam people into paying debts they don’t owe. If you do owe it, pay it.

Please consider making a financial gift to Crown during the lean summer months when so many regular supporters are distracted by vacations and other activities. You can become part of Crown's effort to teach biblical stewardship by making a gift online or by calling 800-722-1976. Thank you!

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• ABCs of Money Package
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• God's Principles for Operating a Business
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• Crown Mvelopes