debt consolidation


Non-Profit Debt Consolidation

If you're like most Americans, you understand that it is getting harder and harder each year to stay financially sound. Recent studies show that in the past four years, the average pay increase for US citizens was a lowly 3%. And that figure alone is skewed: these are just the Americans who actually received pay increases. Because of obvious reasons, there has been no contrary study depicting how many of us are actually being paid less, or not at all! The result of this fact means for many of us, debt is building, and many of us are seeking non-profit debt consolidation to help us.

Non-Profit Debt Consolidation Advantages
Many people believe that when they need help, they are smply out of luck... at Aegis, we would tend to disagree. Non-profit debt consolidation works for a number of people because it ensures that your debt is consolidated with your interests in mind. With private debt consolidation, there may be a difference. The fact is, debt consolidation can be performed on both a for-profit or non-profit basis.

It's important to note that there are good organizations and bad ones in both classifications. Do not assume that just because your credit counseling or debt consolidation agency says it's non-profit, that it is necessarily looking out for you 100% of the time.

The Truth About Non-Profit
People typically call upon non-profit debt consolidation companies because of the positive image attached to the classification. The very essense of "not-for-profit" almost gives an idea that the organization is in fact a government agency, or a company which simply does not make money at all.

To this, we would offer this important information: non-profit debt consolidation agencies are NOT government agencies. They are simply a different business classification which must plunge all of its profits back into the business, or face paying their customers back. So for some disreputable firms, if a salary increases here, and a piece of expensive equipment is purchased there, the fact is, there will be no profits on the books.

Non-Profit Techniques To Beware Of

When looking for a non-profit debt consolidator, understand that there are a few things which are important to look for. First, ensure that the company you are contacting is in a state like California or Connecticut, where consumer protection laws are the strongest in the nation. If you are from Michigan or New York, it is likely, according to a recent state law, that you will only be able to deal with an agency in your home state.

Secondly, does the non-profit debt consolidation agency you contacted offer various types of programs? Some agencies offer only credit counseling programs, which work for those with high debt, but who own property and are currently working for a good income. This is fine if you fit into this category, but if you do not - let's say you have lost a job, or have been hit with a medical emergency which has caused you to miss work, you are going to need debt negotiation. From the very beginning, Aegis has offered both.

Debt Negotiation Vs. Credit Counseling
Simple fact: debt negotiation is not for everybody. This is a non-damaging form of debt consolidation for people who truly need financial help. It is not a loan, but instead a more aggressive form of debt consolidation than credit counseling in that it aims for a settlement with your creditors instead of just lower interest. Debt consolidation, or credit counseling, as it's known, typically will enable you to have your interest payments lowered. Debt Negotiation will eliminate them completely, in favor of a single settlement.

If you would like more information on non profit debt consolidation or debt negotiation, please click here. To discuss your situation or ask one of our experienced counselors a question, contact us for a free consultation here.

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