I have a credit card account that went to a collections agency. I filled out the paperwork for them to arrangement payments for half of the amount owed. I realized that I never heard from them again after I received the letter from MCM saying I need to pay the full amount to them or they will take legal action.
Should I contact the collection agency I filled out the paperwork with or them to straighten this mess out. They want me to send them $500 to start payments but I can't afford that right now. I don't know what to do and don't want to be sued. We had some bad luck, and I arranged payment options with some other credit card companies. This is the only one that is outstanding.
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.