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Sunday, February 22, 2009

Bad Credit : Find Aid With A Non Profit Debt Consolidation

By Frank Froggatt

Are you suffocating from a financial burden--finding it harder and harder to keep your head above water? If you're in a spiraling cycle of debt and can't get the funds to pay your bills any longerand have gotten so far behind that it is a physical impossibility, without a miracle, to ever catch up, you should earnestly consider non profit debt consolidation services. You might be amazed at the options you have.

A debt consolidation services non profit company will provide you with a qualified credit counselor. Your counselor will need all of your financial information; 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, your creditors will be contacted to get your bills renegotiated, many times as much as 50% sometimes even more. When this is accomplished you will send in one monthly payment to the debt consolidation company. They spread your payment out among your creditors as agreed and keep their service fees out of that as well.

As long as the company that you have selected is legitimate, you can feel confident that they will make your payments on time every time--you do nothing but pay that one monthly bill to the company; everything else is handled by them. Every month you will receive a statement showing your progress and over time you can watch your debts disappear.

This is a truly big decision to make, as you can see, trusting some company to handle your finances like that. You absolutely must research these companies beforehand; look in the rip off reports and other online sources including but not limited to the BBB and consumer reports.

The company you choose should also provide opportunities for financial education for those who wish to learn proper money management skills. And programs to teach what credit is really for and how to use it wisely, so you never need similar services again.

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