Non Profit Debt Relief- What To Watch Out For

2007-05-03 16:53:55

( Financial )



If you are tired of borrowing money from banks and financial institutions with jacked up interest rates, then non profit debt relief could be the solution for you. Debt relief programs are typically associated with providing amnesty for the poorest countries in the world as a means of assisting them with rising out of poverty. However, more non profit organizations today, mostly those associated with a religious affiliation understand how living in debt could drastically affect a person’s life. Their aim is to provide low interest rates for individuals who fit a particular profile and meet certain qualifications.

But before you agree to any non profit debt relief or debt consolidation programs, you should be wary of a few things in the contract. If they tell you that there is zero to single digit interest rates, be clear about how long you can enjoy these. Oftentimes, these rates will only apply to the first thirty days or at most, three to six months. After this period is over, interest rates could jack up considerably and you may also be charged maintenance, referral and joining fees simply for signing up with this program. Be clear about any hidden charges and any additional fees as the pay period transpires.

It is also recommended that you check with the federal trade commission to determine that the company you are working with has a credible and reliable reputation. Once they are cleared, you can also ask a lawyer to check the terms and conditions of your loan to clear everything before you sign. Whether it is accumulated credit card debt or your mortgage or car loan, non profit debt relief could be yours sooner than you think. Even those student loans that you have collected could be paid off through this method with longer payment periods.


All rights Reserved © Tradenet Services srl
Do not duplicate or redistribute in any form.