I just got a letter from Palisades Collection saying they just bought my debt from Chase (OC). I sent them a DV letter. I have a couple of questions. Should Chase now update the their listing on my credit report and I should see a new one from Palisades?
My second question is has anyone ever settled with these guys and what % should I expect (the debt is around $10,000).
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.