Does anyone know what a JDB usually gets when they buy a debt portfolio. Do they get enough information to know the debt is actually out of the SOL? Do they get the last XXX number of statements? Do they actually get the full payment history? Do they usually get a signed contract with them, or at least a copy of the actual contract that was signed? I know these portfolios contain hundreds if not thousands of debts, so i am not sure how much information you could actually have on each one of them.
My curiousity has the best of me right now, because I am hoping that when i get through all of this myself, I might be able to do like some of the other experts on this sight, and be helpful towards other people dealing with some of this ugliness.
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.