I have been unemployed for 3 months, I just got a part-time job working 10 hours a week, it hardly pays for my gas getting there. And, after my 32 year old horse feed runs out in 2 weeks, I am going to have to put him down. I just depleted my savings, and can not afford to file bandruptcy. I owe $6,600 in credit cards. I plan to stop paying this month, and move out of the country. Can they take my home, and what are the other consequences that my actions would incur? I would like to work other means out, I do owe them, but they want me to go to a Credit Counselor, and I am only making $70.00 a weekThank you. I feel my only options are, is leaving the country, which I have a friend on a sailboat that has offered me a cabin. But, again, I may have to return, and don't know what I will be returning to.
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.