My story begins in the year 2000, I had just graduated at the top of my class from one the best MBA institutes in the world.
I was offered a job in New York which I declined to start my own technology company in February 2000. I was the king on the hill, I had a technology company of my own, it was funded by venture capitalist and soon we had 20 people working the company.
And then came the tech crash! Everyone around me suddenly just woke up and realized that tech was not sexy any more. We had run out of most of the initial funding and the investors decided to stop the funding and hence we closed down the company.
After we closed down the company I went through a period where I racked up $20K or so in credit card debts. I still remember thinking where to eat McDonalds or Taco bell, and then thinking well taco bell is cheaper and with $5 in my pocket to last till I find the next odd job, it better be the cheapest place. Well those were the hard times. I had to go through a lot of struggle. I slept in churches, Salvation Army and on the streets while at the same time looking for a job. One thing didn't stop coming all this time and those were the collection letters in my rented mailbox and the threats on my cell phone from the collection companies.
Finally got myself a job, found out the laws related to the collection agencies and dealt with them with the rules of the game.
I created this website to tell everyone that deal with the creditors and the collection agencies with the rules of the game. Don't be naive when dealing with them.
Remember, when there is no hope. There is hope just around the corner. :!:
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.