Non Profit Consolidation - Are They A Cheaper Option
Below is a MRR and PLR article in category Master Series -> subcategory Personal Finance.
Non Profit Consolidation - Are They A Cheaper OptionA non profit consolidation service certainly may be the right choice for many of the people who are no longer able to manage their financial commitments. A non profit consolidation organization would, on the face of it, seem a better choice than a bill consolidation service run by a profit making company wouldn't it?
Well the answer is yes and no. Let me explain. There is no guarantee that an organization offering bill consolidation services will be any better just because they're non profit. Consolidation of debts is a complicated matter and it requires clear thinking and some tough negotiation skills. So yes, a non profit may charge you less but they could still end up costing you more if their people aren't good at reducing your monthly or weekly payments.
You should also bear in mind that while they might be non profit they still have to pay for their expenses. While they may not have the swanky offices their commercial cousins have they still have to fund their employee's salaries. Or to be more accurate you, their clients will be the one funding it.
So before committing yourself to going with a particular organization ensure you do your homework. Check around and see how they have done for other people if you can. Make some calls to your state consumer affairs bureau and also the Better Business Bureau to see if there have been any problems in the past.
Don't lose sight of the fact that if you make a mistake in choosing your debt consolidation service it could cost you heavily over time. A little bit of effort could save you thousands and that's money in your pocket.
Take your time and speak to licensed debt counsellors from as many places as you can find. While a couple of extra days won't make much difference at this stage they could add months or even years on to the length of your repayment schedule. And the old adage of time is money is very true if that happens. That's your time and more importantly your money!
Certainly don't dismiss the profit making companies who offer bill consolidation services out of hand without checking all the figures very carefully. Remember they are in business and will only stay in business if they do a good job for their customers. So they might still be better than a non profit consolidation.
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