Quote:
Originally posted by daoist
I seem lots of commercials for various credit counciling services. Lots of them say they're non-profit.
well, even if they're non-profit, they have to pay their employees. If these services are really free, how do they get their operating budget?
Any tips on which types of credit counciling services are best / least likely to rip me off?
thanks again.
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Ah, yes, the never-ending not for profit services....
Well, my advice on this subject is to make sure to inform you that these Services are NOT free. People are often misled with the whole "not for profit" thing, but these are companies, and like all companies, they are interested in one thing, and one thing only. Staying in business, and expanding... (er... I guess that is two things....) These so called non-profit organizations get a large tax break, and so that is why many of them decide to be "non-profit"
I used to work for a credit union, a non-profit financial institution, and they were far more aggresive and concerned about profit than any bank I have worked for. The main differences are basically that non-profit groups don't have any stock, and they get substantial tax breaks.
As for recommending specific companies, I am reluctant to say any specific names, soley based on the fact that I am not all to familiar with many companies and have heard both good and bad about the companies that I know of. I would suggest, though, to call around and check on prices, and to especially look for government funded agencies. Those may actually be free, or at least have greatly reduced costs.
If you need anything else, just let me know! Thanks for posting!