If you are looking for a reputable credit counseling service, you have a choice between a non-profit or for-profit agency. How would you make this decision? Why choose nonprofit credit counseling vs for-profit? Let’s break it down.
Why Choose Non-Profit Credit Counseling
Before making a decision, let’s understand the difference between non-profit and for-profit credit counseling agencies.
Nonprofit credit counseling organizations receive funding from voluntary contributions from creditors. This funding allows non-profit agencies to provide services to anyone, regardless of income level, at a lower cost that is negotiated with the creditors. While the non-profit credit counseling agencies do charge fees, they are minimal. And, if you’re facing severe financial hardship, your fees may be waived. No one is turned away because they are unable to pay or even when they are simply shopping around for effective debt management solutions.
In contrast, a for-profit credit counseling service’s fees are much higher. This is because their ultimate goal is to make money. Additional funding sources are not available, either, to offset any costs to the customers.
Services offered by Non-Profit Credit Counseling Agencies
Non-profit credit counseling agencies offer a wide range of services, from consolidating your debt to bankruptcy counseling. By the time a client is considering bankruptcy, their financial burden has grown out of control. The client feels great pressure and desperation and wants to find an easy, quick solution to release the heavy debt load. Talking to a professionally trained counselor at a non-profit credit counseling organization like American Consumer Credit Counseling (ACCC) can help the client weigh the options and often find a much better solution than filing for bankruptcy.
ACCC – A Non-Profit Credit Counseling Agency!
Whether you’re looking for advice on consolidating your debt or information on reverse mortgages, ACCC can help. ACCC provides advice on buying a home, getting student loans, and even share tips on how to talk to your children about managing credit wisely. And our pre-bankruptcy counseling services have helped hundreds of clients make the best decisions about whether bankruptcy was indeed right for them.
If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today.