I filed bankruptcy in 2005 before the laws changed. I did not include my house or car. In 2007 the loan was purchased by CitiMortgage. In 2009 I lost my job and applied for the Home Affordable Modification the Government set up, however after 5 months of trial period payments they deceided to decline because they could not verify 6 months of income (unemployment), yet I was on it for over a year. After getting back to work I was eligible for a regular modification which ended up adding 10 yrs to my mortgage. Now I want to refinanace with another company or purchase another house and my credit report did not show payment history because I need to reaffirm the loan. Didn't the modification take care of that? Why do I need to reaffirm a loan that was modified?
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.