I have been getting calls from some Asset Management, claiming to have a debt to collect from me for old Pay Day Loans. They refuse to give me any contact information for them but want me to settle with them. I ask them for verification of the debt and they say they have already sent it- start yelling at me when I ask for their information. Can you tell me who these people are, are they legit and how do I send them a Cease and desist letter if I can't get their info? Also, they are threatening to have me served to appear in court.
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.