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Why Choose a Non Profit Credit Counseling Agency

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Why Choose a Non Profit Credit Counseling Agency 

Individuals who are living under a mountain of credit card debt can benefit from the different services provided by credit counseling agencies. But when it comes to choosing an agency, it is important to understand the differences between those that are for profit and those that are non-profit. 

To many people, agencies that are for-profit can seem very appealing on the surface, especially in times of extreme financial desperation. Credit counseling agencies that work on a for-profit basis often claim to offer instant solutions to repair credit scores as a means of luring in new clients who feel they have nowhere else to turn and no other options to get themselves out of debt. But when it comes to claims of quick-fixes to your credit report: buyer beware. Most people don’t bury themselves in debt overnight, and there are no services that will repair debt overnight either. Quick-fix scams not only do not work, but they also come with a number of hidden charges and fees that tend to get their customers into even deeper financial trouble. Working with for profit credit counseling agencies is a lose-lose scenario. 

When looking for credit counseling and other debt-related services, always choose a non-profit agency. Instead making false claims and using hidden fees for financial gain, agencies that are not for profit put their clients’ needs first. Not only do they provide reliable services to help their clients get out of debt and repair their credit, but they also provide education and come up with individualized action plans to help their clients make sound financial decisions to avoid problems with debt now and in the future. 

Some of the services that can be found at a non-profit credit counseling agency include budget management, debt consolidation, credit counseling, and bankruptcy counseling. No matter what, it is important to remember that getting out of debt is a process that does take time, and individuals seeking services from a non-profit credit counseling agency should always have realistic expectations about the process and understand that it can vary from situation to situation. 

For more information on non profit financial counseling and other services to help get you out of debt, look for an agency that is accredited by the National Foundation for Credit Counseling. NFCC agencies must adhere to a high set of standards to ensure the individual needs to clients always come first.

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