Debt Help Non Profit
Posted on
December 3, 2009
at
4:58 am
Hello, can you point me to the right non profit groups that can help me with my debt problems? Thanks!
Posted on
December 3, 2009
at
5:06 am
Non profit debt helpHi there, did you mean non-profit credit counseling agencies? If so, there would be many (if not all) credit counseling agencies that operate under the non-profit status (otherwise it would be illegal to offer credit counseling services there). Here's a list of those states: Arizona, Georgia, Hawaii, Louisiana, Maine, Mississippi, New Jersey, New Mexico, New York, North Dakota, West Virginia and WyomingMay I ask why you've chosen credit counseling as a debt relief option?
Posted on
December 3, 2009
at
5:16 am
Non-profit debt help, does that mean that the consumer need not pay the agency anything?
Posted on
December 3, 2009
at
5:28 am
Credit counseling is non-profit but their Debt Management Plan would cost around $25/mo. after the one time set up fee. The question is, does the consumer really need credit counseling?
Posted on
December 3, 2009
at
5:31 am
Good point bah bah; The usual consumer that needs or is a good candidate for credit counseling is one with a credit card debt amount of less than $10,000. It has to be someone who can guarantee that he/she can make the monthly payments, only if the interest rates are lowered. Debt Management Plan is all about negotiating the interest rates so the consumer can get to the principle amount much quicker.Another good question to ask is, what if the debt amount is over $10,000 and the accounts are already past due?
Posted on
December 3, 2009
at
5:47 am
The answer to that is debt settlement.Debt settlement does not negotiate the interest rates - it goes after the principle amount. The debt settlement program aims to reduce the balance to more or less half of its original amount, in 12-36 months.How much would it cost?Debt settlement companies would charge 15% of your total debt amount -spread over 18 months or they will take between 20-25% of the settlement amount.
Posted on
December 3, 2009
at
5:48 am
Is that so..well, thank you guys, actually I do owe more than $10,000 and most of my accounts, I haven't paid for more than 2 months ...Well, can you recommend a debt settlement company?
Posted on
December 3, 2009
at
6:07 am
I don't think I can do that, but, here's how to find a legitimate settlement company:-The settlement company's program must have a fast completion time. 12-36 months.-The program must be able to protect and improve the consumer's credit standing.-Must be a member of the Better Business Bureau, BBB, for at least 5 years.-Must also have a good standing with the Chamber of Commerce-A Member of TASC - The Association Of Settlement Companies and the IAPDA or theInternational Association of Professional Debt Arbitrators
Posted on
December 3, 2009
at
6:10 am
Destroydebt.com can also match you up to the right settlement company. One that can accommodate your financial situation. Just fill out a form. Don't worry, it's free!
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