Is There Such A Thing As Non Profit Debt Settlement?

Debt settlement involves making arrangements to settle your debt for less than the total amount that is owed. Many people work with debt settlement firms who help them to negotiate such a deal with their creditors. These debt settlement firms can help to arrange a deal with creditors and, in some cases, even process the deal by having you write monthly payment checks to them that they distribute to the creditors. If you are considering working with a debt settlement company or a debt settlement firm, you may wonder whether there are non profit debt settlement firms who will help.

Non Profit Debt Settlement Companies

There are plenty of not for profit credit counselors who will assist their clients in arranging a debt settlement arrangement. However, it is important to note that just because something is not-for-profit does not mean that it is free. You generally will pay for credit counseling or debt settlement services, even if you work with a debt settlement company. The difference is, the purpose of these companies isn't to make money and the proceeds usually go towards performing some type of public service.

You can expect to pay fees for the counseling itself, but you should be wary of a company that:

• Attempts to charge you a large up front fee
• Attempts to charge you a separate fee for creating a debt management plan, as these generally should be included as part of your counseling fees

It is also important to note that just because a firm is not for profit doesn't necessarily mean it is ethical or 100 percent honest.

Getting Help

When you want help settling your debts, the best place to get that help is often from a debt settlement attorney. Debt settlement lawyers can assist you in negotiating with creditors or with anything else a debt settlement firm can. However, you don't have to worry about being scammed with a lawyer, since lawyers are bound by the code of ethics of their profession to charge fair fees.