Module 12 MY FINANCES ARE A MESS, I NEED HELP! Choosing a Debt Counseling Program before it is TOO Late After the holidays, many financially desperate households have found that the encumbrances of the "magic of plastic" have pushed them to the precipice of bankruptcy and into the tangle web of debt consolidation companies. It is important to understand that not all "nonprofit" debt management companies serve the consumer's interest and many are created merely to economically benefit the founders of the business. As a result, these companies must be selected with caution due to the large amount of "upfront" fees that are required. This will be explained.... In addition, most nonprofit enterprises receive a substantial amount of their operating expenses from the financial services industry and actually are created to serve the interest of creditors. These factors should be used as a guide for evaluating potential debt management companies. Indeed, if a company is not certified by the National Foundation For Consumer Counseling (NFCC), the terms of the contract and its claims for negotiating lower payoff settlements should be examined with greater vigilance. Some reputable nonprofit agencies are listed below. NonProfit Consumer Credit Counseling Services: Consumer Counseling Centers of America, Inc. #900, South Building 601 Pennsylvania Avenue, NW Washington, D.C. 20004 (202) 637.4851 www.consumercounseling.org Debtors Anonymous P.O. Box 920888 Needham, MA 02492 (781) 453.2743 www.debtorsanonymous.org Green Path Debt Solution 38505 Country Club Drive, #120 Farmington Hills, MI 48331 (800) 550.1961 www.debthelpnow.org National Foundation For Consumer Counseling Silver Spring, MD (800) 388.2227 (301) 589.5600, x518 www.nfcc.org Springboard, Consumer Credit Counseling Service 6370 Magnolia Avenue, #200 Riverside, CA 92506 (888) 462.2227 www.credit.org     Copyright Newtonian Finances Ltd. © 2000-2024 (disclaimer)