Nonprofit Credit Counseling is an Ideal Choice for Those in Debt

Credit Counseling

Are you a good candidate for nonprofit credit counseling? What are the advantages of choosing a nonprofit counselor over a for-profit service? These, along with several other questions, will be answered in this comprehensive guide to choosing a credit counseling service when you are in debt.

The first thing to be aware of is the fact that you are most certainly not alone. Like you, millions of Americans suffer from overwhelming amounts of debt without knowing how to handle it. Managing debt can seem easier, though, when you know where to look for help. This is where consumer credit counseling services come into play.

How to Find a Good Credit Counselor

It is important to know what exactly to look for in your search for a counselor, so you have the best chance of paying down your debt successfully. One factor to look at is the track record of the company. A good service is going to have proof of their success with former and current clients. If you come across a company that doesn’t offer any kind of valid testimonials or statistics regarding their performance, it’s time to continue your search.

Another aspect of good credit counseling is accessibility. Service providers should be easily accessible to their clients. In other words, you want the comfort of knowing you can pick up the phone or even log on onto a website to get in touch with your credit counselor. They should be within an arm’s reach in case you have any questions or concerns about the counseling process, your payment terms, or anything else relevant to your debt.

Quality counseling involves a solid plan for managing debt that is reasonable and easy to understand. You want to be working with people who are willing to explain your management plan and help you stay on track. Look for a counselor that does not promise to solve your problems in 15 minutes, but rather promises to discuss your situation over a session or two. It takes time to develop a truly comprehensive, smart plan for managing your financial burdens.

Why is Nonprofit Credit Counseling the Best?

When choosing a credit counseling service to help you manage your debt, nonprofit services should be at the top of your list. There are plenty of reasons why you should be considering a nonprofit credit counselor first and foremost over a for-profit provider. A nonprofit entity clearly has your best interests in mind. The nature of a nonprofit business is that it runs to serve others, not to make money. That type of philosophy is the exact mindset you want to find when choosing a credit counselor.

Second, you are more likely to find free credit counseling services from a nonprofit, because they don’t need to bring in excessive amounts of money for profit. This is ideal because it gives you a chance to talk openly about your debts, income, and expenses in a way that gets you closer to your goal of paying off your debt. Depending on the state you live in, you may or may not be subject to setup fees and/or consultation fees, but your chances of finding more affordable services are greater with a nonprofit company.

Need another reason to go with a nonprofit credit counselling service? You may experience unique benefits by seeking such a provider that is atypical with for-profit providers. For example, some nonprofits offer debt management programs that can provide lower interest rates, easy once-a-month payments, elimination of late fees and over-limit fees, and faster progress on debt paydown.

Some clients of nonprofit companies can pay off their debts in as little as 3 to 5 years, rather than the standard 10+ years it takes others getting help from profit counsellors. This can give you an alternative to bankruptcy, which you may have been afraid of resorting to. Say goodbye to collection calls and stress associated with your debt by contacting a nonprofit credit counselling service today.

Where to Find Nonprofit Credit Counseling

For more information on how to manage your debt, what’s the difference between secured and unsecured debt and more, please make sure┬áto check out our resources for nonprofit credit counselling.