I have around 8000.00 in debt help

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Hello blmmac252000 and welcome to the forum! I'm sorry, but I'm not really sure if there are or not. I do know there are some Consumer Counseling Services which are non-profit. Have you ever consider one of those before? I used one a few years ago (non profit) and they helped me immensley. Hopefully someone here, will have some information for you which is helpful.

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Hi blmmac252000, as a community we can't recommend any particular company to you. However, if you can let us know little bit more about the nature of the loans, whom do you owe, current status of the loans, your state and so forth, we can offer you some suggestions.

Moreover, you can register yourself for the free credit counseling offered by the site. They can too guide you towards the right direction.

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Hi Shazzers, I guess you are right. I too have heard about non-profit credit counselling companies. But do they really offer the services they promise? I'm bit skeptical to approach to any of them as I've heard that they skim out money from the customers though they're non-profit and still don't look after the benefits of clients.

Can you just throw some more light on this matter?

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Many of them actually are non-profit (Money Mgmt Int'l, consumer credit counseling services, Etc.).

BUT that doesn't mean they work for free; it just means they try to 'break even' on the bottom line. Since they do have expenses (payroll, gas/light, phone, etc.), they do need some sort of revenue in order to pay their own bills.

Most of these places charge somewhere around $12.50/month, or something like a 15% of the monthly payment they setup for you. This just offsets their operating costs.

They also go to the creditors you're paying, and ask the creditor for their "Fair Share" of 15%. Suppose you're paying Chase $100 a month through the plan; then the company will ask Chase for $15 fair share.

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I do think that their TV/Radio commercials bring a false sense of hope to the consumer ... that you can go running to them and everything will be okay. I don't think they can ever live up to that promise.

I say that because all they really do is send letters to your creditors asking to waive interest, late fees, and accept reduced payments. Your creditors can (and a lot of them will) refuse to deal with the consolidation companies. If/When that happens, then the consol co did not live up to its promise.

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DEBTCRUNCHER...I never new that. I've looked into Non Profit organizations, however..I din't know they charge the creditor instead of you. When I DID try to go through one of these organizations, is it possible, a few of my creditors said "no" because of this reason? Sounds like the 'Non-Profits' really AREN'T non-profit.

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Paying rent, utilities, payroll expenses are not considered profit....it is all part of the overhead.
I know here Lutheran Social Services runs a chapter of CCCS. The fees they charge are quite reasonable and yes the credit is "asked" to contribute it's fair share. Actually the agency I work for years ago would only accept plans out of registered CCCS orgainizations. We would receive proposals from for profit companies and would inform the borrower to find a non profit. No sense lining the pockets of a companay when a non profit generally could do for a reasonable cost.

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