Non profit debt consolidation does not mean that the companies providing debt consolidation services are doing it for free. The IRS has conferred certain debt consolidation companies with the status of non profit as their main aim is to assist people consolidate their debts and negotiate with creditors on their behalf. But that does not mean that these companies will work for free. Even these non profit debt consolidation companies charge minimal fees from the applicants. The responsibility of a non profit debt consolidation company is to guide an individual on how to pay off all his debts and then take over the management of funds on their behalf and pay off the creditors one by one.

The same types of services are also offered by Christian debt relief companies who offer Christian debt relief help to people of the Christian community. Biblical values and preaching form the basis of the functioning of Christian debt relief help companies and they believe that without honesty and integrity an organization whether for profit or non profit cannot function efficiently.

Similarly military debt consolidation assists military personnel who are under debt to consolidate their debts under one roof and pay off their creditors to get rid of debt. Military personnel are the pride of any country and so special privileges are offered to them by the Government. Military debt consolidation is only applicable for the military and it consists of special discounts and privileges which are not available to the layman.

Whatever be the target of these non profit debt consolidation companies, their main goal is to handle debts on behalf of their clients by helping them secure low rate debt consolidation loan which accumulates all the debts into one single loan and then from that amount all the creditors are paid off. The benefit of this type of debt consolidation is that the interest charged on the new loan is much lower and affordable than the interest charged on different amount by different creditors. Plus the debt consolidation company also negotiates with the creditors and reduce not only the interest rate but also request them to waive off late payment charges or fines applicable on the debt.

There are two types of debt consolidation; one is unsecured debt consolidation and the other secured debt consolidation. In unsecured debt consolidation all the unsecured loans which had been taken without placing any collateral in lieu of the loan will be consolidated to reduce the interest rate by almost 60%. Also unsecured debt consolidation will help one not lose out on any asset as no collateral will be placed for acquiring the loan. But with secured debt consolidation is a loan which is acquired by placing collateral in the form of ones home or any other asset can be placed so that the interest rate is reduced by the lenders.

Whether it is normal non profit debt consolidation, military debt consolidation or Christian debt consolidation, consumers make donations to these companies so that they can run efficiently. However taking time to select the most reliable debt consolidation company along with advice from an expert is a must before applying for debt consolidation loan.

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Contact Details:

Peter Poul

54 Green Park,

Landmark,

NY 10001

Email: apoul62@gmail.com

Website: http://www.debtconsolidation123.net/