Free Debt Consolidation

Consolidating or lumping up all your many creditors into one big loan may be your best move to get out of debt efficiently. The good news is that you are never far away from a finance counseling service. These agencies can be categorized into For Profit and non-profit debt consolidation counseling services.

Both types of agencies look and work similarly: they consolidate all your existing loans into one package, they negotiate with your creditors in getting a lower interest rate or other ways to ease the debt terms, they help get rid of those annoying phone calls from people asking you to pay up.

However, there are a few differences when it comes to non-profit services that will mean a lot to you. Here are the three top reasons why you should opt for non-profit debt consolidation counseling:

1. Because You Want To Get Free Financial Advice
   Many offer free credit counseling and financial advice without obligating you to sign up for a plan. This feature will allow you to shop around for opinions on how to run your financial life and make better-informed choices.

2. Because You Want To Get Rid Of Debt Without Being Taken For A Ride
   Many clients in for-profit debt counseling services worry that their counselors are just milking them. Non-profit debt consolidation counseling agencies focus on helping people reach financial independence. And most will at the start seem slightly more affordable than for-profit services. Depending on the debt payment plan, the start-up fee is lowered to help you pay off the consolidated debt sooner.
   Income they generate is meant to maintain their office operations and to pay for their staff, and not to make the company richer in terms of assets. Some agencies receive subsidy or funding from private entities. Some Christian debt consolidation services receive support from their church. Hence, you can demand to know where your money is going.
   Most non-profit groups will include a charitable donations or contribution add-on to your fee. This is often ten percent of your monthly payments or a fraction of the total debt. But understand that this must be optional. If it is not optional, compare the total fees you will incur with the fees of a traditional for-profit service.
3. Because You Want To Stay Out Of Debt
   Non-profit debt consolidation counselors will give a lot of energy in helping you stay out of debt for a long time. Incurring and paying off debt is one aspect of your money. Their program will also help you see how money figures in the way you define life. Money should help you, not the other way around.

Christian debt consolidation services in particular help you look at and manage money from a Christian spiritual perspective. Non-profit Christian organizations generally help out Christians and members of their congregation. They also welcome people of different backgrounds, provided that their clients are amenable to learning financial advice based on their faith.

The main difference of not-for-profit and Christian debt consolidation services from their for-profit counterparts is that they their goals are more attuned to the client. As with commercial finance consulting firms, check first with the Better Business Bureau to see if the non-profit organization is legit.

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