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Sunday, February 22, 2009

Bad Credit : Find Aid With A Non Profit Debt Consolidation

By Frank Froggatt

Are you submerged underneath your bills--finding it more difficult to stay afloat? If your spending habits have got you into a really bad spot and you can no longer afford to make your card account paymentsand are getting so far behind it doesn't seem like you'll ever be able to catch up, you should seriously consider non profit debt consolidation services. You could still have some viable options.

A debt consolidation services non profit company will provide you with a certified credit counselor. Your counselor will need all of your financial information; all past due 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.

With the plan in hand, 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%. All the debt that you owe is consolidated into one payment that you send to the debt consolidation company. They take that payment and after subtracting their service fees (which are already included) they dole out the rest to your creditors as per the agreement.

As long as the company that you have selected is legitimate, you can feel confident that they will make your payments on time every time--there is nothing more for you to do then make sure that they receive the monthly payment; they take care of everything else. Every month you will receive a statement showing your progress and over time you can watch your debts disappear.

This is a genuinely big decision to make, as you can see, trusting some company to handle your finances like that. It is imperative that you research these companies; look in the rip off reports and other online sources including but not limited to the BBB and consumer reports.

There should also be educational opportunities for those who wish to learn how to stay out of debt and still maintain a nice lifestyle.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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