Are Non Profit Credit Card Consolidation Services
A good non profit credit card consolidation company is a remarkable way to reduce your debt to a reasonable
level and start on your journey to a debt-free lifestyle. Several reasons for this will be outlined in the
Nonprofit organizations can be a great way to get your finances back on track but you need to thoroughly
research any company that you might want to employ. You should be very careful to look out for underhanded
practices while trying to choose the correct debt consolidation company for you.
Some companies will claim to be offering you a less expensive or even a free service but will actually be
running a scam in order to get money from you. These companies can act as a non profit debt program would by taking
donations but in reality they are working toward acquiring your money also. If you aren’t careful, you can get
caught unawares by one of these scamming organizations and your finances will be even worse than before.
The best place to look if you are interested in utilizing a non profit debt consolidation service is the
National Foundation for Credit Counseling (NFCC). The NFCC offers debt evaluation and debt counseling services,
among others. What this means is that they will assign an advisor to review your finances and help you decide the
best plan of action for your personal situation. Another resource available to the NFCC is a list of consolidation
services, or Debt Management Plans, all certified by the federal government.
Since these plans are government sanctioned, you don’t have to worry about their legitimacy and with a little
bit of research those in need of financial help can use these services to avoid bankruptcy. These plans are also
adapted to fit each individual debt situation.
A Debt Management Plan is somewhat similar to a debt consolidation or a debt settlement. A holding account is
created to distribute your money among your creditors over a period of three to five years. The clear advantage of
using a Debt Management Plan over a debt consolidation or settlement is the government approval. It is because of
this that the Debt Management Plans are put on a list of accredited agencies and are registered with the Better
Business Bureau. It is a guarantee that they will provide the promised services to their customers.
This makes Debt Management Plans one of the best solutions for financial troubles, and it will prove to bring
cheaper, quicker, and more effective debt relief than trying to settle your debts alone.