Are Non-Profit Debt Consolidation Companies the Saviors They Seem?
Scottsdale, AZ – Even if you’re not overwhelmed by debt, you most likely have seen or heard ads promising the overburdened nothing less than salvation from their debt woes. “Overwhelmed by debt? Combine all of your payments into one you can afford!”, is a common slogan. In the same breath, the ads often mention proudly the non-profit status of the organization. Are these companies the saviors their carefully crafted images suggest? Kristy Welsh, author of the book “Good Credit is Sexy”, says she became suspicious when a reader of her Creditinfocenter.com website, on which her book is based, wrote to complain that his creditors had not received any money after two months of payments totaling $1200. Welsh called the company and obtained details of the program. Non profit debt consol companies collect revenue through a ‘donations’. But as many people have complained to Welsh, the Better Business Bureau and state attorney generals, the consumer is unaware that a portion of their money goes
