If you’re facing a financial debt crisis and wondering if there exist non profit organizations, the answer is yes. Many non-profit organizations offer debt settlement services in their community. These services are operated by volunteers from the community that have financial backgrounds that can assist you with your debt problems.
Just because these services are being offered by a non-profit agency, it does not necessarily mean that they are offering the services for free. While many do offer free or highly discounted services, not all non profit agencies work for free. Non profit is a form of corporation for the purposes of IRS classification. It does not, in actuality, have anything to do with charging for services or providing services for free to the community.
While non-profit agencies often provide these services for little or no cost, there usually is a long waiting list of people who are in the same predicament as you, especially so in today’s faltering economy when the need for such financial services has increased. As such waiting on a non profit organizations list may end up costing you more. Many times when you are in financial trouble, time is of the essence. A few days time can mean the difference between settling a debt or watching it go into a default status and and having third party collection involved.
Debt settlement is a good way to help you get your finances back under control without having to resort to filing bankruptcy under Chapter 13 (see Debt Settlement vs Chapter 13 Bankruptcy) or deal with nasty collection agencies. If you decide to go with a non profit agency for help, make sure that the assistance is going to come from someone who is an expert in financial matters.
On the other hand, you might consider a truly no cost solution by negotiating your own debt. Though the decision to proceed with your own do-it-yourself debt settlement is not an easy one. Try to talk with collectors and creditors on the phone or write your own debt settlement letter. If thing doesn’t work out, you can still opt to go the non-profit way.