Sub:
#1Regarding SOL
Replied on
05-23-2009, 01:14 PM
Is the SOL dependant upon the state you reside, or the home office of the lender? If it's based upon where I live, what happens if I move to another State?
As far as I know, the Statute of Limitation depends on the state you live in. So if you shift to another state, the SOL of that state would be applicable.
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.