subject: Debt Relief Solutions –Getting Legitimate Help With Non-Profit Debt Relief Programs [print this page] Looking for debt relief solutions and want to go for non-profit debt relief programs? Well, just keep in mind that the services of non-profit debt consolidation can be provided only by those companies which receive this status from the IRS. It is not necessary that a non-profit organization will be completely free of cost. They will charge you a nominal monthly fee and offer the services.
A consolidation company always helps you in combining all the dues you have in a single payment. It is then that you need to get a consolidation loan and cover all these outstanding payments. These consolidation companies will also help you by providing credit counseling and they can even negotiate with your creditors and ask them to reduce the amount of debt that you owe. These companies offer their services through donation fundings and government grants.
It can be a daunting task to get hold of a legitimate non-profit debt relief program. Remember that even a legitimate non-profit relief company will take years to wipe out the debt and hence, those who are promising to eliminate debt in a few months are not authentic. However, when you are taking out a consolidation loan, make sure that you restrict you expenses to ensure that you don't default. Once you default, any collateral against the loan will be seized by the bank.
Picking up a debt consolidator which is non-profit is not easy. Some use the non-profit tag to abuse and violate the law while others may seem to be in your locality whilst actually they are located in a different nation altogether. Properly investigate before you pick one.
Ask for a proof of the status that they are claiming. If they can show 501(c)(3), which is an internal revenue code issued by IRS for tax exemption, be assured that the organization is honest and is a non-profit one.
You may also come across companies which showcase their affiliation with religious groups. This is to make you trust on them. While some are genuine, the others are simply trying to grind you by swaying your mind. If you come across an organization asking you to pay voluntary fees and then forcing you to pay a huge amount beyond your reach, it is the right time to drift away to a different farmland.
It is essential that a debt consolidation firm spends ample time (at least an hour) with you in person or over the telephone, discussing your expenses and income and understanding your financial situation. If any organization, claiming to be non-profit, is not spending ample time, look for a different company.
Check the Better Business Bureau and find out the trustworthiness of the company you are about to select. If the BBB states an unsatisfactory record, never trust the company and head for a different one.
Keep in mind that a non-profit relief company will charge minimum fees and will provide counseling and negotiate with the creditors to eliminate over-limit charges, late-fee and also the debt by a certain amount. Choose wisely to have a smiling debt free face.
Debt Relief Solutions Getting Legitimate Help With Non-Profit Debt Relief Programs
