With the increase in number of defaulters, many private debt management companies started setting up in the US. However, very soon people realized that fees charged by these companies are too high. Hence they turned toward non-profit debt management programs introduced by non profit companies.
But non profit companies aren’t charitable business. Hence, they too started charging higher fees and commission. Many companies are known as ‘non-profit’ but are purely profit oriented businesses. Hence, it’s very difficult for an individual today to find a non profit debt management program to repay his/her outstanding debts. Let’s try to ease the complication a bit.
‘Non-profit’ doesn’t always mean lower fees. Hence, look for companies that are accredited by National Foundation for Credit Counseling and Association of Independent Consumer Credit Counseling Agencies. The companies accredited by these organizations are far less likely to cheat an individual or charge higher as they offer non profit debt management programs.
If a company claims to be a non-profit debt management company and is cheating you, there are several governmental agencies you can approach. Also, these agencies will help you move in proper direction and search a genuine non profit debt management program.
Except these companies, there are many other debt help agencies across the USA. Check the one in your area, and check if it’s accredit by any government body before signing up for a non profit debt management program. |
