Why is DCCs non-profit status important?
Many companies provide debt consolidation. Only not-for-profit companies are regulated by the Internal Revenue Service. Other companies are “for-profit,” and are not regulated. Since for-profits do not receive funding from creditors, they charge YOU, the Consumer, higher monthly fees and start-up charges. The majority of creditors will not work with for-profit companies or give the same benefits. For-profit companies usually do not provide the consumer with any education about debt management and how to avoid incurring future debt.
