Setting up non-profit credit counseling agencies is quite popular these days because the non-profit status helps these agencies in availing numerous benefits. One of the biggest benefits is the federal and state level tax exemptions granted to these non-profit credit counseling agencies. The two tax exemptions combined together can add up to thousands of dollars every year. In addition to tax exemptions, the non-profits status also makes these agencies eligible for several public and private grants. To initiate Fair Share contributions, it is mandatory to have non-profit status. Therefore, the non-profit status helps these credit counseling agencies obtain greater respect of the creditors. That is not all. In few states the non-profit agencies are also unreachable by consumer protection laws.
Due to all these benefits bestowed upon them, it is not surprising to see almost all major credit counseling agencies advertising their non-profit status. However, you must keep in mind that most of these so called non profit agencies are set up only to make profits. The non profit status is only used by them as an easy method to tempt customers. Debtors in need of professional help...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
