I have what I think is an unusual situation. I had a Direct Merchants credit card account through HSBC. Because of many financial troubles I didn't pay for more than 6 months. Last month I sent them a letter with a $100.00 payment indicating that I can start up payments again and catch up when I can. They cashed the check and then about 2-3 weeks later (March 8th) I receive a letter from "The Bureaus, Inc." collection agency indicating that this debt was purchased from MET1 by Bureaus Investment Group No 11 LLC. The balance also was increased indicating that my $100.00 was never applied anywhere. First of all, who is MET1?? Obviously, I need to ask for validation on this in order to find out who really owns the debt. Any ideas on who was MET1 because I certainly don't think it was the original creditor. It appears that this account has changed hands three times (Original Creditor, MET1, then Bureaus Investment Group) within a two to three week period. Any thoughts, suggestions, or ideas would be appreciated.
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.