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Sunday, February 22, 2009

Hurting : Get Aid From A Non Profit Debt Consolidation

By Frank Froggatt

Are you submerged underneath your bills--finding it harder and harder to keep your head above water? If your spending habits have got you into a really bad spot and you can no longer afford to make your card account paymentsand are getting so far behind it doesn't seem like you'll ever be able to catch up, you shouldn't hesitate to give a non-profit debt consolidation service a call. There may still be options for you.

A debt consolidation services non profit company will provide you with a certified credit counselor. You will need to provide your counselor with all of your relevant financial statements; all overdue accounts,balances, and your total monthly income. After you finish that you will receive a schedule of payments designed to fit your budget.

When a plan is agreed upon, They get a hold of all of your creditors for you and work to get all of the fees and interest penalties and fees waived, sometimes 50% or more. All the debt that you owe is consolidated into one payment that you send to the debt consolidation company. They take that payment and after subtracting their service fees (which are already included) they dole out the rest to your creditors as per the agreement.

As long as the company that you have selected is legitimate, they'll make sure that all of your bills are paid on time--all that you a required to do from now on is send them that one monthly payment; they take care of the rest. They will send you a monthly report so you can watch yourself progressively climb out of debt.

This is a huge step to take, to trust someone with your finances that way. It is imperative that you research these companies; check consumer reports and the BBB to be absolutely certain the company you choose will do what they say.

There should also be opportunities to get educated on the topic of financial responsibility.Be given the opportunity to learn about the correct use of credit and what it is essentially for should also be available.

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