Last year I contacted a credit counseling agency and they told me, after review, that we just don't qualify because our income has decreased too much. Since then, we are simply just drowning in debt and getting further into a hole. My husband is a self-employed contractor (new home construction) and business is just not what it used to be. His income is sporadic at best. Bankrupcy is not an option - even though it has been recommended. Please help - I don't know what to do anymore and can't take much more of this stress!
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.