I have had 3 companies/Banks cancel credit cards in the past couple of months due to low credit scare which was due to some fraud activity on my bank account sometime ago. I have been able to get the payments back on schedule but due to low score they closed the accounts.
I am able to make the payments but would like to lower the interest rates on them so I can them cleared up ASAP and work on rebuilding my scores. SHould i try and do this myself or pay a debt management company to do the negotiating . Any assistance would be appreciated
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.