Posted on
July 27, 2009
at
2:13 am
Hi. Can anyone recommend a list of free debt management companies here? I need someone who can help me with my bills. Thanks
Posted on
July 27, 2009
at
2:22 am
As far as I know, there are no such free debt management companies, but rather non-profit debt management companies.
Posted on
July 27, 2009
at
3:06 am
oh okay if that's the case then what's a good company to work with that doesnt charged any fees??
Posted on
July 27, 2009
at
3:30 am
Can you tell me which of the free debt management companies are legitimite ones too?
Posted on
July 27, 2009
at
4:04 pm
Anyone looing for free debt management companies will have a hard time. As previously mentioned, the majority of debt management companies market as "non-profit." However, you can expect to pay a small monthly fee, usually around $25-30 for their services. The reason these companies can operate successfully as non-profits is because they receive kickbacks from the creditors, who often times own and fund these organizations.
Posted on
July 28, 2009
at
3:42 am
So there is no such thing as free debt management companies after all. Hmmm.Since you mentioned "kickbacks from creditors," could you tell us how much do these debt management companies receive from the creditors they work with?
Posted on
July 28, 2009
at
6:00 am
Typically around 4-10% of what the customer owes. It used to be as high as 15%. This relationship between creditor and counseling agency is called fair share.
Posted on
August 11, 2009
at
2:26 am
I may be wrong but aren't non-profit debt consolidation companies still charging their customers with a monthly fee of some sort? Please enlighten me.
Posted on
August 11, 2009
at
2:57 am
Yes. Around $25 monthly. It may seem off but it's true.
Posted on
August 11, 2009
at
3:06 am
That's weird. Why is that they still charge fees? Aren't they supposed to be non profit anyways?
