When you owe multiple creditors a good amount of money and they are coming to collect, it can feel as though no one is on your side. It should come as a great relief, then, to hear that non profit debt settlement agencies exist for the sole purpose of helping you to get your finances back on track. Debt settlement programs that have obtained their non profit status from the IRS are not typically free of charge, but they are able to step in and help you to arrange aggressive repayment strategies that are lower in price than you would find elsewhere. However, just because a company has a non profit tag attached to it that does not mean that you should blindly sign on the dotted line. You would be wise to vet thoroughly any prospective settlement company before you settle on one with which to do business, whether they are a non profit or for pay organization.
Compare Rates
While non-profit debt settlement agencies work with you to arrange payments and interest rates that fit in with your current income average, this does not automatically ensure that you are getting the best deal on the market. Be sure to contact both paid and non-paid organizations to inquire about their upfront charges, monthly fees and interest rates in order to get a good idea of the range of price points that exist.
Check Backgrounds
Not all non profit debt settlement services are equal; be sure to check out their track record before you decide to let any prospective company handle your case. Online forums are a great place to search for reviews and company ratings that are posted by consumers who have no reason to be biased in their opinions. A simple online query using your favorite search engine should link you to many such forums. Typically, these online forums are interactive, which means that you can ask specific questions about your prospective companies and receive pointed feedback about each one.
The Better Business Bureau (BBB) is also a great place to check out your prospective debt settlement program. The BBB is a watchdog organization that exists for the sole purpose of fostering a transparent relationship between businesses and their clients. This means that the BBB collects data and feedback on organizations, both positive and negative, based on the individual consumer experiences that the organization churns out. If you contact the BBB online or at one of their many nationwide storefront locations, they can give you a good idea of how reputable any prospective company is and the level of customer service that you can expect to receive.
Go to the Source
Most debt settlement companies, both for profit and non profit, offer free initial consultations for prospective clients. Make appointments to visit several different companies in order to get a general feel of the organizations’ attitudes toward their clients, as well as their ability to add value to their clients by providing honest and transparent services for affordable fees.
During your initial consultation, trust your gut feeling about the company. If a prospective non profit debt settlement agency treats their customers with respect and compassion, you will know it right off the bat. Conversely, if you are just another number to them, you should be able to pick up that vibe in no time.
Many terrific agencies exist to help make your debt settlements smooth and as stress-free as possible. Many of these agencies have acquired a non profit debt settlement program designation from the IRS and can offer you lower rates than other services. However, you would be wise to stand your ground and hold out until you find the organization that is right for you.