Non-Profit Debt and How Non-Profit is It?
There's an unfortunate thing happening in the debt resolution business.
With more and more American consumers seeking help with getting out of debt, many debt resolution companies have popped up who are not what they seem.
They advertise as non-profit companies and they are anything but.
These types of companies are seizing on the need of the consumer who is in dire need of financial assistance, and while there is beginning to be some recognition on how to detect them, the ploys get better by the day.
The worst of the worst are the ones who pretend to be non-profit, almost charitable organizations that use the facade to lure in desperate consumers.
When payments have been missed, the bill collectors are hammering on the front door or phoning every day, a person's guard becomes lowered.
They will do almost anything to get debt relief, and make it all stop.
One of the most unfortunate aspects of these non-profit debt companies is that they take on guises of being affiliated with Christian groups, charity organizations, which leads people to believe them on face value alone.
In many cases, one will find that not only is the affiliation bogus but so is the not for profit aspect too.
The fees are positioned in a different manner from traditional debt resolution companies, who are very upfront about their fees.
These non-profit debt companies will ask for donations.
And, ask is a nice word.
Basically, they don't do any work for the client without the 'donation'.
And, it gets worse from there.
Clients have reported that companies will promise to work with creditors to lower interest rates, and will call saying that a payment - of a lesser amount - is due and that they will pay it.
Later, the client will often find that the payment has gone into the coffers of the company and was never used toward settlement of debts.
With the advent of these non-profit debt companies, more than ever lies on the shoulders of consumers.
It is necessary to do homework on any debt resolution company, whether they are non-profit or not.
With a little online research and a call to the Better Business Bureau, it just makes plain sense to know who is going to be handling money.
There are many reputable debt resolution companies out there.
Too many to not end up with a good one.
With more and more American consumers seeking help with getting out of debt, many debt resolution companies have popped up who are not what they seem.
They advertise as non-profit companies and they are anything but.
These types of companies are seizing on the need of the consumer who is in dire need of financial assistance, and while there is beginning to be some recognition on how to detect them, the ploys get better by the day.
The worst of the worst are the ones who pretend to be non-profit, almost charitable organizations that use the facade to lure in desperate consumers.
When payments have been missed, the bill collectors are hammering on the front door or phoning every day, a person's guard becomes lowered.
They will do almost anything to get debt relief, and make it all stop.
One of the most unfortunate aspects of these non-profit debt companies is that they take on guises of being affiliated with Christian groups, charity organizations, which leads people to believe them on face value alone.
In many cases, one will find that not only is the affiliation bogus but so is the not for profit aspect too.
The fees are positioned in a different manner from traditional debt resolution companies, who are very upfront about their fees.
These non-profit debt companies will ask for donations.
And, ask is a nice word.
Basically, they don't do any work for the client without the 'donation'.
And, it gets worse from there.
Clients have reported that companies will promise to work with creditors to lower interest rates, and will call saying that a payment - of a lesser amount - is due and that they will pay it.
Later, the client will often find that the payment has gone into the coffers of the company and was never used toward settlement of debts.
With the advent of these non-profit debt companies, more than ever lies on the shoulders of consumers.
It is necessary to do homework on any debt resolution company, whether they are non-profit or not.
With a little online research and a call to the Better Business Bureau, it just makes plain sense to know who is going to be handling money.
There are many reputable debt resolution companies out there.
Too many to not end up with a good one.
