How Non Profit Credit Consolidation Company Can Aid You

Are you so far in debt you can’t see any way out? Are you in danger of loosing your automobile or even your home? If so you need to take action now before your house goes into foreclosure or you have to take the choice of a bankruptcy..

Credit card counseling debt consolidation non profit companies may be the way for you to pull yourself up out of the crushing weight of your bills and be able to breathe freely again knowing you are taking steps to pay off your debts.

In case you were wondering what these companies can do to help you I have provided a list of all the benefits of using one. 1. You can expect as much as a 70% reduction in your credit card debt.2. Phone calls from bill collectors will stop. 3. Get all of your bills into one easy monthly payment. 4. Your debts will instantly be reduced and interest charges will be erased 5. You will have credit counselors working with your creditors to get you a lower payment. 6. You won’t have to worry about making multiple payments anymore as the nonprofit debt consolidation company will make them for you. 7. You only have to send one payment to the credit agency and they will make sure that everything is paid on time. 8. You won’t be left in the dark has each month you will receive a statement that includes Bill payment times and amounts. 9. Your statements from the creditors will still be received by you.

The annual interest rate on credit cards is normally between 18 and 24% If you decide to only make the payments on credit card in 30 years you will still be paying for them. When you take advantage of the services of a credit card counseling debt consolidation non profit company you will be able to reduce your interest rate and eliminate late fees in some cases. Another good thing about it is that your creditors will end up getting their money and you have the possibility of saving your credit rating. It is a win-win situation for everybody and the span of time that you are in debt gets dramatically reduced.

You need to remember that, as with all things of such importance, you need to research the company that you want to do business with thoroughly before you sign any type of agreement with them. There have been some of these companies who have taken the money from clients and used it for their own designs, stating that the monthly amount was a fee for their involvement. Others have been late on payments and their clients have paid the price by having their credit destroyed.

Make sure you are clear about how much they will charge for a fee. Don’t leave it up to the company to make the decisions on what they do with the money, you need to make sure to let them know that the money is to be paid out to the creditors as soon as they receive it. Consolidating your debts can be a real blessing but you need to make sure that what she wanted stated clearly and you need to be sure what the company’s methods of business are.

In the long run, as long as you are aware of the problems with some of these companies you have the advantage. If you find a reputable credit card counseling debt reduction company, they can truly benefit you by helping you to restore your credit and helping you to get a hold of any other financial troubles you are experiencing.