As lenders increasingly depend on credit counselors to keep debtors out of bankruptcy, a debate has erupted about who should be giving the advice.

Consumer advocates and established counseling agencies agree that this is a human service most appropriately provided on a not-for-profit basis. But others accuse the nonprofits of hypocrisy. The business is lucrative, and directors of nonprofits are paid extremely well, critics say.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.