What Does Non-Profit Mean In Credit Consolidations?

Non-profit credit consolidation services assist you with credit repair without taking a high commission or interest from you. There are many credit counseling options on the market, and going with a non profit company can provide you more comfort as you know they are ultimately there to assist you rather than profit from your vulnerable situation.

Non-Profit Lenders

Non-profit lenders will assist you in obtaining loans, often to pay off debt, at interest rates typically consistent with inflation. Do not expect 0% interest. Remember: these services cannot lose money due to inflation and still stay in business. They also must pay for basic businesses overhead such as office space and salaries.

Non-Profit Credit Counselors

Non-profit credit counseling services offer advise and financial assistance to those who want to rebuild their credit. Again, these companies still must make enough money to cover their overhead. The difference is there is no profit split between owners and investors each year. Salaries for employees also tend to be lower at these services than private, for-profit firms, meaning the counselors you work with are more likely to have your best interest in mind instead of a large profit.