Credit Card Debt Reduction Consolidation

Know of any good reputable, honest Debt Reduction/consolidation agencies that are non-profit also?

Trying to get rid of Credit Card Debt that is out of control. Don’t want ones that will sell my personal info but are truly honest and follow all the laws etc.

Stay away from any “debt consolidation” company that promises to cut Your Debt in half through Debt Settlement….This is a risky tactic of deliberately ceasing all payments to creditors and forcing your accounts into default to attempt settlements. You pay a monthly fee to a debt consolidator….this entire fee goes towards building a settlement account and to the consolidator’s fees to “settle” your accounts in the future. Your credit card companies will deliberately not be paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%. If you are current on your accounts, this process will ruin your credit rating for sure. Debt settlement is like a roll off the dice with your finances…You can never predict how your creditors will respond to the deliberate defaulting of your accounts…they might settle at 50%…or they might serve you a summons, take you to court…and if they win, you could be looking at wage garnishment.

Many people who sign up with “debt consolidation” firms incorrectly assume that they have the power to force your creditors to accept settlements…they don’t. Your creditors have the right to refuse settlements and take you to court.
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The only real non-profit firms are Credit Counseling Services….they negotiate lower interest rates and payments but they do NOT negotiate settlements/reductions in debt.

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