Years ago, I had a friend who worked for a company called (I believe) Consumer Credit Counseling. She explained that this company was a not-for-profit organization that helped people deal with excessive debt, primarily through counseling (i.e., teaching the people better behaviors) and working with the creditors to reduce the amount owed (on the theory that a creditor would rather get a percentage of what is owed them than get nothing at all if the creditor declares bankruptcy).
At the time, I assumed this was a government-funded agency, and I only ever heard of the one company doing it. Now, however, I am seeing more and more commercials on TV for competing “non profit” companies that offer the same services. It’s obvious they are not all government sponsored (and I now doubt that my friend’s company was either), and I’m starting to wonder what these companies get out of the deal? I assume that “not for profit” means they don’t charge for their services, but maybe it just means they can only charge enough to cover their expenses? And if they do charge, are they charging the consumer or the credit card companies?