Just got off the phone with Chase. First said they could not go lower than 60% on $12,000 debt (for one card). I offered 30%. Lady said probably not but she would check. Came back on the line said good news and bad. They would take 30% but I had to include our other account (19000). So settlement for $9472 75 days out. Know I have two days to to accept the offer and come up with the money payable over 93 days! I have 1/2 of it going after the other 1/2 in the morning. Two down two to go!!!! Lady was polite and couldn't believe they made that offer.
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.