Tips for Choosing a Non-Profit Debt Management Solution

Finding a good debt management solution becomes extremely important when your only alternatives are bankruptcy or continuing to miss payments.  If you’re in this position currently, there is a bright side to your cloudy financial sky:  a non-profit debt management solution.  This option involves enlisting the help of an organization that exists to help consumers who have gotten into a situation where their debts exceed their incomes every month.  There are private businesses that offer these services for a fee, but for many people a non-profit debt management solution is the better choice because there are no costs involved.  Here are some tips for finding the best non-profit debt management solution for your needs.

 

First, always make sure that the non-profit debt management solution you pick has been accredited by either (or both) the Association of Independent Consumer Credit Counseling Agencies or the National Foundation for Credit Counseling.  These groups oversee the issuance of accreditations for many for-profit and non-profit organizations that offer professional debt management solution services.  Note:  be sure that each service you check out has a current license from one of these groups.  Some services (including non-profit organizations) get an initial certification, only to let it lapse or fail to qualify for re-certification.  Only choose a debt management solution that is provided by a group with an up-to-date accreditation!

 

Next, remember that the label “non-profit” is easy to use in the debt management solution field, but the title alone is not proof that an organization really is what it purports to be.  When you contact a debt management solution service that claims to be non-profit, ask to speak with the owner or top manager.  Ask that person point-blank if their service is truly a ‘charitable organization.’  They are required by law to explain whether they are truly charitable or simply licensed as ‘non-profit’ for tax purposes while still charging clients fees for their services.

 

Finally, don’t be confused by the terms ‘debt management solution’ and ‘credit counseling,’ which are different practices.  Debt management involves a third party (the non-profit organization in this example) working with your creditors to come up with lower payments and/or a reduction in the total amounts you owe each.  A credit counseling service stops short of any dialogue between the company and your creditors.  It is meant simply to give you advice on how to better handle your own finances and work within a budget from month to month.

For confidential credit counseling, get started
with our free no-obligation online intake form.

Click to Get Started>>

Get Free Immediate
Debt Counseling!

· Avoid Bankruptcy · Reduce High   Interest Rates · Stop Harassing   Creditor Calls

Call 866-699-2227 >>