Just wanted everyone to know that I think there is a new scam out there over the telephone. I got a call the other day from a company - I don't remember if he even gave me the name of the company. He first told me that I won a cash prize because I have a mastercard and then ask me if I did indeed have a mastercard. I told him I was not interested and hung up. So, not sure what he was after but please be aware.
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.