What Are The Types Of Credit Counseling Services For Debt Assistance?

By Author: Daniel Stewart
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Credit counseling is the name given to a professional service which helps people to get rid of debt incurred on credit cards. This procedure begins with a consultation about the financial condition of the debtor. Finances are reviewed by the counselor and debtors are informed about the various options that they have in order to get out of debt issues as fast as they can.
Know about the different forms of credit counseling services that you can avail for debt help in North Bay.

For-profit

The for-profit counseling services earn revenue in the form of fees, which makes their plans costlier for debtors to afford. This is understandable, as the name indicates that these companies are founded to make a profit by helping in debt relief through consumer credit counselling services.

Non-profit

These are not concerned about profit, and it is only grant money that supports these agencies financially. Grants are given by Credit card companies to help customers crawl out of their debt problems. Thus, debtors have to pay lower fees than what can be expected with for-profit counseling service providers. A free, one-time evaluation is offered by non-profit agencies. Fees are applied only for setup and for running a debt management plan.

Non-profit counseling is easily a more affordable and better option for most individuals who have to contend with financial problems and are trying to get stability back into their monetary situation. Huge fees are what nobody would look for when he or she is in debt.

Author Resource:-

Daniel Stewart has been helping people with their debt settlement, credit card debt and debt relief Solutions with over 15 years’ experience in business finance. You can find his thoughts at personal financial advisor blog. If you need debt help in North Bay, visit this website.