Key takeaways
- Nonprofit debt consolidation can make debt payments more manageable by reducing the number of bills you need to pay.
- Unlike traditional debt consolidation, where borrowers pay off existing debts with a new loan, nonprofit debt consolidation relies on a debt management plan that works with your existing debts.
- You may want to try a nonprofit service before considering a for-profit company.
If youre one of the almost half of Americans who carry a credit card balance every month, you might struggle to juggle multiple debt payments to numerous creditors. You have to remember all the different due dates and make sure the money is available when you need to pay each bill.
Debt consolidation can help by combining two or more…
Read the full article at: https://www.bankrate.com/personal-finance/debt/how-non-profit-debt-consolidation-works/
