Whats the difference between a non-profit credit counseling agency and a for-profit agency?”
As more and more Americans have slipped into financial difficulty, many companies have emerged to provide solutions. Unfortunately, many have also emerged to profit off of others’ misfortunes. Working with a non-profit credit counseling agency assures you of two things. First, non-profit credit counseling agencies are now regulated closely by the Internal Revenue Service. This government oversight affects all aspects of how the agency works with clients and assures you a high level of integrity and competence. Second, non-profit credit counseling agencies provide most of their services for free. This makes them a tremendous resource for most clients who pay nothing for their help. To verify that a non-profit credit counseling agency is reputable and trustworthy, check for their membership in the Association of Independent Consumer Credit Counseling Agencies http://www.aiccca.org or the National Foundation for Credit Counseling http://www.nfcc.org and contact the Better Business Bureau.
