You have reasonable
questions with answers at the back of your mind. You must get the debt
validated by the collection agency and confirm their collections are
legitimate. Keep a check on your bank account as they will be trying for
a debit. This is fair only after they send you the debt info. Send your
debt validation letter to their mailing address. Send it through
certified mail with return receipt requested and keep a copy in your
file. In the meantime, request your bank to "hold" any transaction done
by NES. Without complete info given by the CA, you have reason to block
them if they are trying a debit.
By signing up a debt 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 payoff 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.