I have some debt that has been in collections for a long time every time i try to deal with them they are very rude and threaten me. I am at the point where I have been ignoring them for a long time and my debts get sold to different companies. I know my credit is very bad but I heard If you pay off old debt It is just the same as just letting it fall off your credit report. Is it more important to get my current car and student loans paid off as fast as i can or to try and pay off the old debt at the same time as my high interest loans.
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.