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What Types of Help Do Non-Profit Consumer Debt Services Provide?

This is a common question and the words “non profit” cause a lot of confusion. Good non profit consumer debt services will be able to help you consolidate your debts into 1 monthly payment with lower fees and interest rates through their debt management plans. In addition, they should also┬áprovide you with family budgeting advice and ongoing financial counseling as you become debt free.

These services do charge a modest fee for their debt management plans but they are also obligated to assist non paying customers with some free helpful debt relief information. Why? Because in exchange for helping people for free or at a marginal cost, the IRS does not require them to pay corporate income taxes. They provide a useful public service and the government rewards them for that.

Through their free educational materials as well as counseling sessions their goal is to teach you about:

  • debt
  • personal finance
  • savings strategies
  • money management

Their objective is to not just get you out of debt but to make sure you do not return! By teaching people in debt how to improve thier financial standing, non profit consumer debt services do provide a valuable service to those in need. However, please understand non profit does not mean all their services are free!