If you’re looking for non-profit debt relief, you may have noticed that there are a lot of companies and services competing for your attention. In the online space, there are many competitors offering debt relief options. Some of them are helpful and some could take advantage of you during a vulnerable time. So how do you know what to look for?
CESI believes that the best choice for consumers looking to get out of debt is a non-profit debt relief provider. Why does this matter?
When you work with a non-profit to get out of debt, you can be assured that the provider has a rigorous set of operating guidelines designed to protect the consumer.
In order to qualify as a non-profit debt relief company (also known as non-profit credit counseling), an agency is required to operate using a different set of standards. These standards mean a higher degree of accountability to maintain their status as a non-profit. Failure to follow these requirements can result in the loss of non-profit status. For-profit companies are not required to comply with these same non-profit standards.
Non-profit agencies often charge lower fees, and when possible due to hardship grants, no fees for their services. Each state regulates the fees for non-profit debt relief providers in their state. This fee structure ensures that services are affordable and that agencies do not financially benefit from the financial hardship of consumers.
Non-profit agencies offer a no-obligation free credit counseling session that includes a workable budget, then offer solutions to help you eliminate your debt.
When you work with a non-profit credit counseling provider, some of the benefits may include:
Many non-profit debt relief companies belong to the National Foundation for Credit Counseling (NFCC), the oldest and largest financial counseling organization in the U.S. In addition to federal and state guidelines, NFCC member agencies are required to comply with additional guidelines. All credit counseling services must be offered by certified credit counselors.
Additionally, every NFCC member must obtain accreditation from the Council on Accreditation (COA), an independent third-party organization that has reviewed more than 1,500 social service programs around the world.
Providers of certified credit counseling may also be accredited by the Financial Counseling Association of America (FCAA), a member-supported national association representing financial counseling companies that are not associated with the NFCC.
It can be confusing to tell the difference between a non-profit and a for-profit provider. Here are some simple guidelines to help you identify who is who:
Whatever your reason for seeking debt relief, it’s important to know that there is reputable help available. Do your research when selecting a non-profit debt relief provider. There is legitimate help offered. Working with the right credit counseling agency can help you turn your financial situation around!
If you are experiencing financial difficulty and are looking for a solution, non-profit credit counseling can help you make sense of all your options. CESI has been offering non-profit debt relief for more than twenty years. Contact us today for a free financial assessment with one of our certified credit counselors.
Consumer Education Services, Inc. empowers people to overcome their financial challenges and lead financially-healthy lives.
CESI is NOT A LOAN COMPANY