Non-Profit Debt Management

Introduction To Non-Profit Debt Management

Most debt management companies that are available to help individuals and families deal with their debt problems work on commercial terms, meaning they expect to get paid for their services. However there are equally a good number of other organisations that profess the interest of their customers as their priorities; and so they take on the responsibility of offering free debt management to individuals and families who have problems with their finances. Just like their commercial counterparts, non-profit debt management counsellors are available to help people deal with debt and help them draw up a working budget plan that will help guide them into taking control of their finances.

Non Profit Companies

Essentially, the fact that they are non-profit does not mean they are non-professional. Most of the non-profit debt management companies are made up of experts who have now retired, volunteers who have extra time to spend helping others or even paid professionals who may have been sponsored by another organisation. It is therefore important to not immediately think that non profit companies are less competent or less suitable than commercial debt management companies. Before you empty the remainder of your cash into any commercial debt management program, weigh the options available for you in terms of what you need help with and if the free services offered by the non-profit debt management companies would be beneficial to you.

In reality, most of the non profit debt management companies are funded by credit card companies who use them as a channel to recover debts from their card holders. This means they are able to pay experienced professionals to work for them, to help you manage your debt. Though the service is expected to be free, you may be required to make a token payment which of course is relatively lower than the amount you will pay for a profit oriented debt management company.

Do Non Profit Companies Really Not Charge?

There are some companies that simply use the term ‘non profit’ as a marketing tool. So whilst you may not be charged an upfront fee for the service being rendered, you may be required to make certain payments over time. This may eventually end up being equal to the amount that a commercial entity would possibly charge. Therefore, before you decide to engage with any non-profit debt management organisation, make sure you lay before them all of your needs and your expectations and enquire about all of the payments that may be involved. This way, you are able to see the broader picture and make a concrete decision based on what is best for you as an individual.

Choosing a non-profit debt management firm is not an easy task as it carries similar risks. The most important thing to look into is a companies recommendations. Speak to people who have used the same company and take note of their experience. You should also acknowledge that a genuine non-profit debt management firm can receive hundreds of applications daily for consideration and therefore it might take a couple of weeks or even a month before you might get an opportunity for an interview.

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Non Profit Debt Management