Individuals should not feel alone when it comes to debt and things related to it. According to one national survey, more than fifty-four percent of American households have unpaid debts that amounts over fifteen-thousand dollars. Bailouts and grants have been offered by the federal government, but not everyone qualifies for them. Individuals should check in with a credit card debt relief non-profit company for assistance in getting rid of debt.

Most non-profit companies deal with debt consolidation to assist individuals with controlling out of control credit card debt. They receive money from their work with creditors. Some charge a small fee to those, using their services, but can be waived if the individual proves it to be a hardship. The first job of any non-profit is to assess the current financial situation of the individual. They examine current debt as compared to their monthly income and other obligations. They attempt to consolidate the debt as most as possible by negotiating with the creditors to lower rates of interest, extend the repayment plan, and drop excess charges including late fees and other penalties.

If the individual is eligible for consolidation, the counselor at the non-profit gets a loan from a lender and the individual only then has to send one monthly payment instead of numerous. The counselor is put in charge of dispersing the monthly payment to the various creditors.

Even though credit card debt relief non-profit agencies handle mainly consolidation services, they do offer advice on how to budget properly. They will educate their clients on budget preparation, checkbook balancing, and how to use credit properly. By understanding these lessons, individuals are more likely to not fall into debt again. To find out if someone is eligible for debt consolidation, visit http://www.mydebtsolvers.com.