Recently I had several people tell me that they opened the MySmart Cash Account at Fidelity and it was closed shortly after. Apparently they are now using a company called MSI I contacted MSI and they said they use : checksystems, Lexis -Nexis and telecheck to evaluate accounts opened by Fidelty. If there are negatives, they 'suggest' to Fidelty to take appropiate action(s).
This is an option that has helped so many for a long time but is now being removed from my Chex-friendly list. I am hoping that it does not cause any problems for those that have already opened accounts .. we are watching the situation closely and I will report any news that I find
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.