Non-Profit Debt Consolidation
Nonprofit debt consolidation is becoming a very popular financing product or term these days. When call it a loan product it sounds like an oxymoron doesn’t it. I mean how can it be a bankable lending product and still be considered non-profit?
I’m sure you’ve noticed all of the television commercials for Free Credit Report Dot Com. Very clever ad indeed. Americans in 2009 will be looking for personal financing products such as free credit reports and non-profit debt consolidation services.
As it turns out a web site (company or webmaster) can claim to give non- profit debt consolidation services by directing you to a web site like the one example mentioned above, and they will make a commission. A tidy little bit of profit for sure.
That fact is that most sites that claim to provide a non-profit service are indeed making a profit. Not that it really matters as long as the user, client, or customer are getting all of their debts consolidated without having to pay any extra fees (closing fees, high interest rates).
If you really need debt consolidation you can also consider doing it yourself (DIY Debt Consolidation) whereby you lump all of your bad debt into a few creditor accounts and then request debt settlement agreement and pay a only a percentage of your debt (30% to 70%) depending of course on the willingness of the lender, bank, financial institution, or law firm in the form of a Chapter 13 settlement.
What ever you do, the goal here is to stop all those bill collectors and collection agencies from harrasing you all day long!
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May 1st, 2009 at 6:43 am
Thanks for sharing. It is useful for me.