The word non profit means not for profit and when a company tags itself as nonprofit
company it means that it is not working for profit but just to maintain its existence or philanthropy. Debt consolidation services offered by nonprofit companies are called non profit debt consolidation services.
Most of the people have a misconception that non profit debt consolidation services are always for free. There are genuine companies like DebtConsolidation123 that offer authentic nonprofit debt consolidation services because they are registered as not for profit organizations. These companies are known to be customer satisfaction oriented and for transparency. It is clearly mentioned which service is free and which is charged for.
There are some companies which used the term non profit just to lure the customers. Some companies offer a miniscule part of their services free while charge hefty for the other services. Some people may consider this to be as good as cheating but finally it is the responsibility of the debtor to read the terms and conditions mentioned as fine print. There are companies that claim to offer nonprofit debt consolidation services, when in fact they are not registered and legally authorized to do so. Before availing the services of any Non profit debt consolidation company the debtor should always check the authenticity and genuineness of the company.
Most of the debtors seek nonprofit debt consolidation services just because they think that these services are the cheapest. It is better to consider the efficiency of the company at reducing the total debt and reducing the applicable rate of interest for availing the best debt consolidation services. DebtConsolidation123 takes utmost care that the debt consolidation offered by it maximizes the total debt reduction.