Let me be perfectly clear here, while this article is about a job posting from Trinity Debt Management, I’m not beating up on them. It’s just that their job posting is a good example to help consumers understand the reality of nonprofit debt help.
And look, I totally understand the back office issues of needing to make ends meet and make sales to continue the mission and objectives of the organization. This post is only geared at trying to help people looking for debt help to understand that when they seek help from service organizations pushing one limited product, they need to understand they are being sold to. That’s it.
When people talk to a bankruptcy attorney, credit counselor, debt settlement company, or the like, they need to understand everyone is typically pushing their widget.
This employment advertisement from Trinity Debt Management just made the point clearer than I could.
The nonprofit group Trinity Debt Management describes themselves by saying, “As a non-profit agency, Trinity provides counseling and debt management services for individuals and families who are experiencing debt problems. Working with creditors on a client’s behalf, Trinity negotiates significant reductions in interest and late fees, while consolidating bills into one, manageable monthly payment.” – Source
But the employment advertisement made me want to mention a few points.
If people think that they are going to talk to a financial professional and get unbiased personal finance advice, they may want to question this more. Trinity is looking for $13 per hour employees to “Provide financial counseling to individuals in debt, including budgeting and credit counseling. Done in person or via phone, email, or mail. Assess clients’ overall financial situation by reviewing income, assets, debts, expenses, credit reports, or other financial information.” Does it make good sense to base your future financial success on a $13 per hour employee? You decide.
But is the goal to provide sound general financial advice? Well they go on to say a requirement for the job is to “Consistently meet required goals surrounding the number of new clients that are enrolled onto the debt management program.” And that income will be based on new clients enrolled. They say, “Monthly bonus- Counselors are given a goal each month for the number of new clients they need to enroll on DMP. Based upon the number enrolled, a bonus is awarded.” – Source
Trinity is not the only organization focused on these goals and requirements. Most are. When the reality is nobody makes money till something gets sold, guess what, the goal will be to sell something.
But the individual debtor just needs to keep that fact in the back of their mind and evaluate all of their options before deciding which approach will work best for them in their situation. That’s all I’m saying. Nonprofit credit counselors are sales people as well as the for-profit debt settlement companies.
I wish Trinity luck in finding their new debt management sales person.
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