I am asking a lot of questions with this debt consolidation company that I have just signed with and I wanted to ask a question here and see what you guys think.
I explained to the lady that I use my AMEX card to put a couple of utility bills on and that way I can get them paid when they are due and then at the end of the month just pay the card. This is the only use I have for this card as I can't carry a balance on it and it's paid in full every month. The lady at debt relief Inc. said my creditors that I have enrolled in the program will see me doing this with AMEX and may cause a stink and be less willing to settle since they see me accruing charges on another card and paying it off each month.
What is your take on this?
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.