What I want to know is how come no one seems to know who the reputable companies are that offer debt consolidation. People never hesitate to talk about who the scam artist are. Why not talk up the good companies so other people can be helped. Being in debt is frustrating enough without having to "GUESS" who is a good company and who isn't. :confused:
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.