It's been twice now that I have received one page "validation notice" in the mail with general wording about having 30 days to verify the debt, etc. Is this supposed to be in lieu of the regular documents that I'm supposed to receive when I ask to have an account validated? How am I supposed to respond when I do receive this vague document? I also thought that verifying accounts was only done with original creditors.
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.