I ran into trouble about a year ago, lost my job and the usual burn out followed. Anyways, got into a lot of debt, credit cards (3 in total, Discover, Chase and Orchid) and about a ton of payday loans. I got a job a month and half ago and I am going to clean up my act, get my shit together and get out of debt. Now the problem is that I cannot track any 3 of the credit cards, all of them have been charged off but after that, there is no mention of them anywhere in my credit report. Neither do the payday loans appear although I do get a few calls about them in between weeks.
I did a lot of research, looking for professional help with my situation and finally zeroed down on DMP. From what I got, its more effective than debt consolidation and less risky. I live in Scottsdale, AZ and I have been hearing about Novadebt from one of the people in office. Does anybody here know if they are good enough to work with?
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.