I have had some serious credit issues. I have credit cards which carry low balances on them,less than $550. These credit cards have been charged off according to my credit report. I am no longer receiving statements from cc company. I am still receiving calls on one of the accounts which I believe is being handled by cc co's internal collections department. All accounts were in the hardship department prior to being charged off. In addition, I can see where there have been inquiries on my credit report, I'm sure they were looking for any assets. What is the liklihood they'll pursue via suing me? 2 of my accounts, I don't even hear from the collection agency or whomever is handling the accounts.
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.