Credit Counseling Drops the Ball- Non-Profit Debt Relief Solutions Aren't Always Effective

*Epic Debt Relief works with debt settlement and negotiation for consumers in need of debt relief solutions. The company is not associated with or considered to be a non-profit organization or credit counseling service. The information in this article is for informational use only, so that consumers can make informed decisions about their debt relief solutions on their own.*

Non-profit debt relief companies are not hard to find. These companies will advertise their non-profit status as a temptation for consumers who have a need for debt relief but an inability to pay for services that can help them to get out of debt. The reason that many consumers who are in over their heads seek bankruptcy alternatives through non-profit companies is because they promise a chance to get back on track without charging high fees, interest rates, or other charges that people cannot afford. This is often a dream come true for consumers who need help, but can quickly turn into a nightmare for those who are not prepared or informed about what credit counseling actually does.

Non-profit agencies won't charge fees if you cannot pay. They also are supported by creditors in most cases, making it easier to get lower rates and better payment plans. These companies are usually more objective than the companies driven by profit, which can give consumers a more effective solution and keep them from getting into a program that they don't need. Finally, these companies deal with smaller debts, which can provide relief for those people who don't need all the big bells and whistles of profitable debt relief and credit counseling companies. However, even for all of these benefits, there are some disadvantages to non-profit credit counseling.

The companies are non-profit, but that doesn't mean that services are affordable. They can waive the fees for you, but they can't change the high payments or interest rates that you are given. Plus, they still belong to the credit counseling industry, where the majority of consumers fail to complete the programs that they enroll in. If you miss even just one payment, you can lose special rates and pay even more than you already are. All of these issues make non-profit credit counseling more hassle than it's worth in most cases.

Also, just because a company is non-profit, it doesn't mean that they're a reputable company. Just because a company applies for tax exempt status does not mean that they are a legitimate service or that they have special recognition as a credit counseling service. Many companies are deceptive, illegitimate, or otherwise unprofessional regardless of whether they are for profit or not. The ‘non-profit' doesn't guarantee that the company has your needs in mind, either. Most people hear this phrase and think that they will be working with a company that is interested in helping them, but this isn't always the case. Basically, following the advice of credit counseling agencies just because of their ‘non-profit' status is foolish.

To learn more about debt relief solutions, contact Epic Debt Relief today at 877-971-3232.