About Non-Profit Debt Management And Credit Consolidation Organizations
It's never too late to work on getting out of debt - and, you don't have to do it all by yourself. When you are in a financial crisis, you need help from financial experts without having to pay a lot of money for that help. You can get this help from non-profit debt management and credit consolidation organizations. Their services are legal and effective for people who owe at least four figures to one creditor.
Services Offered
Always check with the individual debt management and credit consolidation organization for exact details on the services they offer. But most services include two steps - getting all of your debt into one loan to repay and getting you money management counseling. Sometimes you don't have to be there in person for your appointment, but you need to at least be on the phone or online.
As you've probably discovered to your chagrin that it isn't repaying the principle of a loan back that is hard - it's repaying the interest fees that are. It's the interest fees that make you feel as if you will be in debt forever. That's because you will be in debt forever if you don't get some legal help. Non-profit debt management and credit consolidation organizations pay off all your loans, then you pay them for the loan they gave you. The interest rates are much reduced.
Banks do this all of the time in order to get back some of the money they are owed - which is better than getting NONE of the money back. You do wonder why banks and credit lenders don't just offer these low interest rates to begin with and save a lot of time, but the interest rates is how they make their money.
Things To Watch Out For
A non-profit debt management and credit consolidation organization is just that - non-profit. If the employee asks you for a "donation", they are doing something illegal. You also need to be wary of any debt management and credit consolidation organization that offers you a loan and interest rate without closely going over your finances. They're hiding something there.
You should never be asked to do something illegal, like lie on any paperwork, even at the urging of an employee. This is illegal and you will get punished harshly if you are caught. Also, there is no such thing as having anything on your credit record erased. Anyone who promises you that is offering you an illegal service, or will just take your money and not do anything for you.
