Saturday, February 28, 2009

Hurting : Find Aid With A Non Profit Debt Consolidation

By Frank Froggatt

Are you suffocating from a financial burden--finding it almost unbearable to take a breath? If you're in a spiraling cycle of debt and can't get the funds to pay your bills any longerand have gotten so far behind that it is a physical impossibility, without a miracle, to ever catch up, you shouldn't hesitate to give a non-profit debt consolidation service a call. There may still be options for you.

A debt consolidation services non profit company will provide you with a qualified credit counselor. Your counselor will need all of your financial information; all overdue accounts,balances, and you gross income you receive in a month. After you finish that you will receive a schedule of payments designed to fit your budget.

When the plan is made, They get a hold of all of your creditors for you and work to get all of the fees and interest penalties and fees waived, oftentimes by more than 50%. When this is accomplished you will send in one monthly payment to the debt consolidation company. They spread your payment out among your creditors as agreed and keep their service fees out of that as well.

As long as you've chosen a reputable company, you can feel confident that they will make your payments on time every time--all that you a required to do from now on is send them that one monthly payment; they take care of the rest. They will send you a monthly report so you can watch yourself progressively climb out of debt.

As you can see this is a big step to take, having someone else be in control of your finances like that. I can't overstate the value in doing your research on these companies before dealing with them; use good sense and make sure they are listed with and have a good standing in the better business bureau.

There should also be opportunities to get educated on the topic of financial responsibility.Be given the opportunity to learn about the correct use of credit and what it is essentially for should also be available.

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