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But beware! Some of these debt relief programs are scams run by con artists who can’t deliver on their promises. If you fall for their pitch, you could lose hundreds of dollars in fees and find yourself in worse financial shape. You’ll owe just as much as when you started, plus have additional late fees and other penalties to pay.
[| non profit debt consolidation]
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[| non profit debt consolidation]
The report notes that challenges remain in terms of creditor participation in the HIPC initiative. Debt relief committed to 26 countries that have reached the debt forgiveness stage of the programme is 12 per cent below the total required. At least 24 creditor countries have not expressed an intention to provide debt relief, the report observes, and many commercial creditors "remain unwilling to participate in the initiative."
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