What is the best way to attack a debt problem? The answer is head on! However, there is another problem; many people stumped with financial debt challenges can’t afford to pay for legal representatives to address their issues. An overlooked yet effective remedy you should think about is debt consolidation non profit organizations.
A common symptom of debt problems is worrying, if you have had enough, look into using a non profit credit counseling agency. Essentially, these providers function as service to debt laden borrowers. They are listed as not for profit corporations because they are not legally structured like your usual for profit small business. Their mission assignment is not profit; their mission is always to guide citizens to eliminate debt. Consider non profit consumer credit counseling agencies as the YMCA of the debt trade.
Have you heard of any of these debt consolidation non profit organizations? Do you think that these organizations can really help you to get out debt? Like most individuals, if this is your first time hearing about these types of organization, you may have a lot of questions such as the ones mentioned.
You need to not worry at all because going this route has become a common option these days. Lots of Americans are sinking in debt and they want out! The primary culprit being credit card debt. And of course not realizing that credit card companies have rigged their plastic money with loan shark type interest and fees. Once you use their money, they make it hard for you to pay it off.
Suffice it to say, if there was ever a need for non profit debt consolidation organizations, the time is now! Duly note; a number of companies claim they can help you to get out of debt without spending a dime. Certainly, you have to have discovered those styles of ads? Those are literal deceptions! They are charging you by charging your creditors for the work they perform. Those are in reality, for profit debt settlement corporations coming across as non profit consumer credit counseling agencies.
That means you are going to have to take some steps to insure that you are dealing with a genuine debt consolidation non profit organization. First of all you need to put together a list of potential companies and then vet them through the Better Business Bureau, the FTC, your Attorney General and make sure they have the proper licensing to do business in your state. The companies that clear those hurdles are candidates for you to interview to see who makes the most sense to hire.
Think of the interviews as first dates. As you are asking certain questions, you are looking for warning signs and deal breakers. First of all you need to find out the service charge for their service. Next you should determine the re-negotiated rate of interest once your credit card bills are successfully consolidated and what your new, more affordable monthly payment is going to be. You also need to inquire about the various regulations linked to the loan consolidation contract.
The best game plan is to make appointments with few of the companies and then compare each of them to each other to find the best among them. That path will help you choose the consolidation agreement with the lowest interest rates, lowest payments in the shortest amount of time. It seems like a lot of work but rest assured, going with a debt consolidation non profit organization will save you a lot of money, time and effort.
If you are thinking about the Debt Collection Statute of Limitations or becoming a Certified Consumer Credit Counselor, the debt experts are here to help.