I read a posting from someone else (a person, not a company) that stated a CA, like Midland Funding cannot legally collect monies owed on an account if the original owner of that account has already written the account off on their taxes as a loss, or filed a claim with their insurance company on the loss, is that true? If it is true, how would I, the consumer, find that out?
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.