A non
profit debt consolidation agency renders services whether you are or aren't able to pay fully for the fees and the services.
A reputable non
profit debt consolidation agency can help you develop a debt repayment plan.
Non
profit debt consolidation agencies charges lower fees than for - profit debt consolidation companies.
Not exact matches
Since lenders know that collecting at a lower pace or with smaller
profits is far better than not collecting at all, they will be more than willing to agree with the
debt consolidation agency new terms on your
debts.
Today
debt consolidation is offered by many different providers including traditional financial institutions; finance companies and specialty lenders; not - for -
profit and for -
profit credit counselling
agencies; as well as bankruptcy trustees.
That's why in some cases a
Debt Consolidation Program (DCP) through a not - for -
profit credit counselling
agency might be a better option.
Rather than incurring more
debt via a
debt consolidation loan to repay your creditors, you work out a repayment plan you can safely afford to pay back your creditors, usually through a not - for -
profit credit counselling
agency.
One more thing to keep in mind: A true NPO will not be a lending
agency, and therefore not offer you a
debt consolidation loan because loans typically generate a
profit for the lender, so it wouldn't make sense.
If you're facing financial problems but aren't sure you want to work with a not - for -
profit credit counselling
agency, like Credit Canada, and meet with a certified credit counsellor, the best person to speak to is someone who's gone through the process themselves and successfully completed a
Debt Consolidation Program (DCP).
Because of this, «consumers should be very careful of
debt consolidation and settlement
agencies, particularly those that are for -
profit.»