I have so many times seen how people wished that the OCÃ¢â‚¬â„¢s would have offered pennies on the dollar to them to settle the debt, but you also must understand that these debts are sold in huge portfolios. NOW wouldnÃ¢â‚¬â„¢t it really stick in the JDBÃ¢â‚¬â„¢s craw if a large group of consumers banded together and formed a non profit corporation who then went and bought up these portfolios and then offered to sell them to the original owners of the debt for the same price? Boy oh boy would they scream bloody murderÃ¢â‚¬Â¦now I know that isnÃ¢â‚¬â„¢t ever going to happen, but it is something amusing to imagine. :twisted:
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.