Personal Finance: Class 1 - Goalsetting
In fact as early as 1351 there was a law passed in Venice which was designed to stop people spreading rumors that would drive down prices. As more formal commerce spread around Europe so did the need to have stock markets. By around the 16th and 17th centuries Amsterdam had begun to become the main stock market in Europe.
So yes, a non profit may charge you less but they could still end up costing you more if their people aren't good at reducing your monthly or weekly payments. You should also bear in mind that while they might be non profit they still have to pay for their expenses. While they may not have the swanky offices their commercial cousins have they still have to fund their employee's salaries.
They succeeded in driving the price up to around $54 an ounce before the authorities changed the rules on margin trading. As a result the market crashed spectacularly into freefall. If you had blindly followed them because you didn't know what you were doing but thought it was safe to do so because others were following them you could have finished up bankrupt.
It is not just the reduction in the amount of money they have to find each month that makes debt consolidation loans so appealing to people. Perhaps the greatest benefit of all is the peace of mind such loans can bring. For anyone who has been haunted by the worry of how they find enough money every month to service their debts they can be the answer to their prayers.
That not only does that make you sound financially responsible but it allows you to go back to other lenders and say hey I've been offered this by ABC Bank can you beat it? Of course if they do tell them you will get back to them and go back to ABC Bank and say I've been offered this by XYZ Bank can you beat it?
Have you been referred to them by someone you know and trust? Are they non-profit or a profit making company? As with any other major decision you should do some checks to make certain you are doing the right thing. Ask about them at your church. Consult the Better Business Bureau and speak to your state consumer affairs representatives.