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Non Profit Credit Card Debt Relief

As a non-profit, do you remember the thrill of applying and being approved for your first credit card? If you need non-profit credit card debt relief, here are some tips. Non Profit Credit Card Debt Relief After getting that credit card, soon you found yourself swimming in a sea of debt, and you knew you were in way over your head. A credit card debt relief program can help you find your way back to the shore of financial freedom in a way that won't forever ruin your credit.

Non profit credit card debt relief: What is it?

A credit card debt relief program that is non profit is simply a program designed by a debt consolidation specialist or agency that helps you find your way out from underneath the heavy load of credit card debt, interest rates, penalties, over-draft and late fees, and those annoying calls from collection agencies.

You can find these services through online, by telephone, or at a local debt agency office. Even military bases, credit unions, universities, and some branches of your local co-op extension agency offers non profit credit card counseling programs.

Non profit credit card debt relief: Finding a debt management plan

Enrolling in a debt management plan (DMP) can help you settle your debts with your creditors with the help of an authorized agency.

With a DMP you send or deposit an agreed upon amount to the agency of choice which uses your payment to pay your creditors.

Most creditors agree to lower interest rates while on one of these programs, and will work with you as long as you do not miss one payment. You will be required to make regular, on-time payments that has to be accepted by the creditor. The credit card account will be closed during the process to help you get out and stay out of debt.

Non profit credit card debt relief: Disclosure requirements

Be aware that before you sign up with any debt relief agency for their services, they must disclose to you certain information about the programs they offer:
  • What the price and terms are, and any conditions on their services
  • What the expected results will be, and how long it will take to achieve these results
  • How much money or the percentage of each debt owed to the creditor will be offered to each creditor
  • What the consequences of non-payments to the agency or creditor would be and the affiliated fees and charges
Just because a company is considered does not necessarily mean that you will not be charged a fee or asked to "voluntarily" donate to their program. so programs are free, so do your research ahead of time!

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