So, I've read a lot about CBCS since seeing them on my credit report last month. I must admit, I was reluctant to even contact them, afraid of the harassment that would ensue if I opened up communication with them. This week I sent them a request for a Letter of Validation. I'm almost positive they will be able to produce the correct documents, in which case I'd like to promptly get the debt paid. What sort of documentation do I need when making the payment to make sure they can't come after me in the future for the same debt? I've seen several post saying this had happened to them, and the people have been struggling to convince CBCS to drop it even after give them proof of payment. Any advice on how to proceed so this is my only encounter with them??
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.