Think of bill consolidation companies as your partner in debt management and negotiation. In short, they help turn your high-interest bills into one, low-interest payment, which helps eliminate the chance of missing a payment (and thus negatively affect your finances and all-important credit score) as well as to receive the benefits of a fixed interest rate as opposed to facing multiple bills with fluctuating interest rates. Overall, bill consolidation companies take the frustration out of managing your own debt while eliminating it as quickly as possible.
How do bill consolidation companies operate?
Bill consolidation companies analyze your credit history and, following individual contact with each of your creditors, provide tailored advice and a specialized loan, which consolidates your payments into one, lower interest-rate bill. While your only focus is the single payment issued by your bill consolidation company (which usually includes their fees), they in turn pay the bills you have agreed to consolidate (note that some interest rates, such as those associated with particular mortgage payments and student loans, cannot be consolidated).
Utilizing their expertise and connections with the debt and credit industry, bill consolidation companies work directly with your creditors to reduce your interest rates and lower or eliminate late repayment fees. They provide you with exact dates regarding when your bill will be paid off and are available for feedback and advice.
Additionally, they often work with third-party collection agencies to eliminate collection letters and phone calls. This extends to the bill consolidating company regularly contacting your creditors to maintain communication and stability. In effect, bill consolidation companies act as your personal agent to ensure you only have to focus on paying your one monthly payment.
Moreover, since bill consolidation companies allow you to make only one monthly payment instead of several, it will be easier for you to consistently pay bills on time and thus reduce credit card debt. Further, this will also improve your credit score. Lastly, once you have paid your consolidated bill, your debt is gone. Your bill consolidating company will inform each of your previous creditors of your bill fulfillment and you will have no further obligations.
Bill Consolidation for Non-Profit Organizations
Non-profit bill consolidation companies focus on making your payment schedule simpler and payments lower without sacrificing your financial well-being. Without the hidden fees of for-profit bill their for-profit counterparts, non-profit bill consolidation companies make available all possible resources to help clients find the debt solution that best meets their needs. Further, non-profit bill consolidation companies are often willing to work with any individual with bill or debt problems, regardless of their credit history (which is not the case with for-profits).
Non-profit bill consolidation companies take care of all aspects of the partnership, from working directly with all of your creditors to providing on-going debt management advice. And they also look at all options available to their clients; whether it be creating a specialized loan or negotiating toward a set interest-rate, non-profit bill consolidation companies work with you to find your best debt solution.
Regardless of how long you have been in debt or how much you are in debt, non-profit bill consolidation companies are here to help without any fine print fees or large, upfront financial commitments.
The benefits are enormous; in addition to gaining access to some of the top professionals in the industry dedicated to helping your debt problems, non-profit bill consolidation companies give you the opportunity to end all late fees, lower interest rates, save tons of money, and, most importantly, be complete free of debt.
Non-profit bill consolidation also provides a healthy option to bankruptcy. In fact, laws have become more stringent regarding who is eligible to declare bankruptcy. Further, filing bankruptcy will leave a major scar your credit report that will limit your spending power. And their work will not leave a blemish on your credit report.
In sum, working with a non-profit company aimed at helping you consolidate your bills will give you an objective, solutions-oriented plan to break free of debt.
