My husband just received a certified letter saying he is being sued for money owed on a Home Depot credit card. The card had a $1000 limit (which we never reached in purchases). We fell behind on payments when we both lost our jobs within a few weeks of one another. They have been bombarding us with demands for $2500, $3000 and more for over a year. We have called them time and time again trying to get them to settle for a reasonable amount, but they want all or nothing. They refused to work with us at all, even when we were both unemployed. We assume we should attempt to settle now to avoid marring his credit any further, but with their track record, we are worried it won???t do any good. We???re afraid they will continue to demand the entire amount. What should we do next?
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.