Chase has offered me a 35% Settlement on 19000. The amount is for $6900. I have another 130,000 coming up in collections. This is the first offer i have received from them. Should I take it or hold out for 20% around $3800? I need a little insight on what to do next. This website has been an inspiration and has definitely helped my blood pressure.
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.