They call themselves debt counseling services, debt consolidators, credit counseling services, and a variety of other names. They tout the fact that they are non-profit organizations. I pose a mystery. See if you can solve it. How can organizations that receive no profit afford to advertise so aggressively in expensive national advertising campaigns on radio and television? One ad I saw the other day mentioned that their organization has helped 2 million people. Why do these organizations spend so much money and fight so hard to recruit new clients in such vast numbers when they make no profit from them? Why are there so many of these servants of the debt oppressed? Was there an explosion of conscience all over the United States at the same time?
Locate a charity that will accept your car without charging you a lot for removal. Some charities will take your car as a donation and come pick it up for you free of charge. However, it depends on if you have a preference as to what charity you would like your car to go to. The organization or charity must be a 501(c)(3) non profit organization. This is a specific certification non profit organizations in flint michigan receive from the government. If they do not have this, refuse and move on to the next one. If they are not certified you will not be able to get the tax benefits you deserve to get.
Since there seems to be so much “advice” out there that really isn’t much more than an old gimmick in a new dress, I want to offer you potential entrepreneurs a few quick tips on starting your own business without a lot of money. Here they are.
Hold an event that relates directly to the mission and purpose of your organization. An example would be having a speaker that is popular and that can draw a crowd. Have the speaker volunteer and charge people to attend.
Debt Consolidation may provide a consumer with a home equity loan to help consolidate his or her outstanding debts into one monthly payment. It is a possibility with the current economy freeze and the mortgage crisis consumers will no longer have this as a viable option. Nevertheless, should this be an option, it is in your best interest to negotiate the lowest APR with your lender. Experts don’t recommend this option as it turns unsecured debt to secured debt, which places your home in jeopardy if default occurs.
But what happens if you can’t keep up with that $500 per month? After all, you sought help from a credit counselor because you were struggling financially, right? Let’s say you drop Charitable Non Profit Organizations down to per month. After deducting the $25 monthly fee, that leaves $425 toward your debt plan. Now you’re looking at 90 months (7 years & 6 months), which is not much better than the 109 months you started out with.
You can earn extra money. This is a great thing about donating a car. If your vehicle is sold, you will have a percentage of the profit. Another way to earn is through your tax savings. Because you will deduct the amount of your donation to your tax, you will earn extra money in the process. There are also companies that offer partial payment in cash for high valued cars, boats, RV’s, and motor homes. There are many ways to earn when you donate a car.
In some cases, these non-profit groups represent only charity and volunteer organizations. They do not have the money to directly settle the debt, but they do tend to work to come up with a solid debt management plan. They may not be able to settle your debt for you, but they can help come up with solid budgets and debt management plans for some. It is up to you to keep to the plan and work your way out of debt. These organizations may have more volunteers working as representatives; they may also get paid a minimal amount.