Selecting a non profit debt consolidation company – Essential steps you should follow
Guest Article By: Rick Murphy
Do you swipe your credit cards very often? Are you floating into the sea of credit card debts? If yes, then you must be looking for nonprofit debt consolidation companies since they are more reliable and trustworthy in comparison to the profitable ones. Although you need to pay a certain amount of fees for their services, you can have the confidence that their main objective is not to make extra bucks from you but rather help you out to pay off the credit card debts.
Essential steps to select a non profit debt consolidation company
Here are discussed the essential steps that you need to follow while selecting a non profit debt consolidation company.
Call up the Better Business Bureau – While looking for a non profit debt consolidation company, you need to check out if they’re registered with the Better Business Bureau (BBB). Also, find out whether or not they have an established track record and less number of complaints. In case you find that the company you’ve chosen is not registered with the BBB, you should at once leave the company and search for a different one. There are several non profit debt consolidation companies and so, it is of no use wasting your valuable time on a risky company.
Compare the fees and the charges – Once you narrow your list, you should compare the fees and the charges of the non profit debt consolidation companies you’ve chosen. Make a list of the companies that have been accredited by the BBB and are considered non profit. Call up the companies you’ve selected and find out their payment structure. This will help you choose the company that suits you the best.
Credit score will not get hurt – Before you may decide to meet with a debt consultant from a non profit debt consolidation company, you need to know that they will consolidate all your outstanding debts and help you out with a better comprehensive payment. They’ll also make sure that your credit score will get improved with time rather than being hurt.
Request for the 501(c) (3) certificate – If the debt consolidation company you’ve chosen is non profitable, then they’ll have the non profit certificate to show their tax status. However, if they only act as a non profit company, then you need to know that they do so just to increase their number of customers.
Do the necessary calculations – Before you talk to a credit counselor, you should make it a point to do the necessary calculations. If the company tells you that they’ll charge 10% and then it comes to 12% on your calculator, you should at once bring it to their notice before you make the payment. It can be said that this process helps you calculate your personal finances and deal with them in a better way so as to keep your future secured.
By following the above steps, you will be able to select a non profit debt consolidation company and eliminate the debts that you owe in a much convenient manner.
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