My daughter has also been struggling to pay her bills. She has had a Capital One card she has been past due on for quite some time (maybe a year or two) but we do not know the exact amount. She started getting crazy calls from NCO Financial. They were calling all the time! I finally sent them a debt validation letter and also requested, under the Fair Debt Collection Act, that all further communication be in writing and no phone calls.
Rather than getting a letter validating the debt, we got a letter from NCO saying they are closing their files on this matter. In the subject line, it listed "Capital One."
What do you think this means? If they closed their account, does this mean Capital One may be getting ready to sue her? They didn't even bother to validate the debt.
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.