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Non Profit Debt Consolidators, Are They a Better Choice?
by Carrie Reeder
When most people think of non-profit organizations they think of charitable organizations, organizations standing for a higher cause with your best interest at heart. Yet, when youre dealing with debt consolidation, does a non-profit mean you wil

When most people think of non-profit organizations they think of charitable organizations, organizations standing for a higher cause with your best interest at heart. Yet, when youre dealing with debt consolidation, does a non-profit mean you will be the recipient of more compassionate service? Does it mean that you will pay less for these services? Does it even mean that those who help you will not be making money from your business? When it comes to consolidating your debt, what is the difference between a for-profit business and a non-profit organization?

For-Profit & Non-Profit

Everyone knows what a for-profit company is. They charge you and your money pays for their operating costs, salaries, time and energy. Not-for-profits organizations are the same. The only true difference is that they set their salaries and expenses in advance, obtain money from federal funding in addition to fees, and are not allowed to ‘make money above the already agreed upon salaries, advertising, travel costs and other operating costs. In essence, they already know how much theyll make from their work and are not allowed to make extra than what is allotted. What you may not know is that what is allotted is set by them. Your payment goes toward this.


When it comes to your monthly payments and the payments of services, each company or organization can vary greatly. In the long run, the not-for-profit organization is not going to be able to negotiate a lower monthly payment or interest rate for you simply because they have secured non-profit status. They will be dealing with the credit card companies, creditors and banks in the very same manner that a for-profit company would be. Non-profit status does not necessarily mean that you will be getting a better deal.

The Truth

When it comes to non-profit debt services, the only difference is the title in which they hold. It may make you feel better to deal with a non-profit organization, but the payments and fees are likely to be the same as for-profit. The best way to decide what particular service is best for you is to shop around within both realms of debt consolidation and find the situation that suits your particular budget and needs.

To view our list of recommended debt consolidation companies online, visit this page: Recommended Debt Consolidation Companies Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.

The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
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