If a senior citizen has to file for Bankruptcy, are bankruptcy attornys lenient with fees? It's kind of a catch 22. The person filing has very little disposable income but the attorney I contacted charges several thousand up front. If she had several thousand up front, she wouldn't be facing bankruptcy. This person might face foreclosure.
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.