Debt Consolidation

Factual Questions
1

I have heard a million different things about these debt consolidation companies, some good, some bad. Supposedly they work with your creditors to get your interest rates lowered, lower your monthly payments, etc.; and they claim to be not-for-profit.
A few questions come with this:

Does anyone have experience with these companies (good and bad)?

Does it lower your credit rating?

Apparently they make money or there wouldn’t be so many. So by not-for-profit, does that mean all the money goes directly to the employees instead of a big surplus for the company?

2

LanceUSMC, this thread from last week may help answer your question: Credit services

3

Yes, I actually saw that out there, but never did a search like it said. So, thank you! I know some are legit and some are not and one would need to be careful. What about the last two questions? Anyone?