Key takeaways
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Traditional debt consolidation involves rolling your unsecured debts into a new loan, but nonprofit debt consolidation requires you to enroll in a debt management plan.
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Nonprofit debt consolidation can be used to make credit card debt and medical debt more manageable.
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Student loans are ineligible for debt management plans, but the credit counselor may be able to help you explore your options to make the monthly payment more affordable.
Debt consolidation involves rolling all your unsecured debts into a single loan. Youll get one monthly payment, making it easier to manage your debt load. Its also possible to get out of debt sooner if you qualify for better terms than you currently have.
Nonprofit debt consolidati…
Read the full article at: https://finance.yahoo.com/news/nonprofit-debt-consolidation-works-013634908.html