Non profit debt relief is a niche in the debt relief and consolidation business that is often misunderstood. Clearly, the staff and management of a non profit debt relief company must be paid, so if their clients don’t pay them, who does? Non profit debt relief companies get their funding from government agencies, donations and creditors. While it is easy to understand why the government or philanthropic individual or organization might fund a debt relief venture, one might reasonably ask why creditors would fund them.
Non profit debt relief services are able to provide people who don’t have the means to pay for the services of private debt relief companies. It is in the creditors’ interests to fund these services because debt relief services can settle debts more cheaply than the creditors can. While this may seem like a win-win situation and often can be, consumers need to do their homework before accepting a non profit or religious affiliation claim at face value.
Non profit debt relief is an attractive sales pitch. It implies honesty and integrity. Unfortunately, sometimes the claim of “non profit” doesn’t mean that a company actually has legal non profit status. Before doing business with a non profit debt relief company, obtain proof of their legal non profit status. After that, treat them as you would any other debt relief service. They should offer you the same level of service that a company that charges a fee or commission would. If they don’t, you might end up losing more than you are gaining. Non profit debt relief is an attractive option and may be the right option, but it is not your only option.
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