Non Profit Debt Management for Stay at Home Moms (cont.)
Contributed by Lisa Marie
Some will simply put notes in the comment section of your credit report that says something like "Under Credit Counseling" or "Debt Management Service Utilized". This is a somewhat sneaky way of your past creditors informing your potential future creditors that you weren't able to pay your debt on your own, and that you needed help in doing so. If you were a future creditor, what would you think about this?
Some companies will send you a nice letter telling you that they are proud of you for taking the first step to a debt free life, which they possibly are. Nonetheless, it doesn't help the fact that your credit is probably going to be worse than if you declared bankruptcy.
Other options for stay at home moms.
How about getting a part time job over the internet. They are of them out there and can be tough to find, but they are there. A home equity loan is a good option because now you can deduct the interest you pay on your taxes at the end of the year. All that I'm saying is that there are some serious caveats about non profit debt management services: So please do your homework before you do anything.
