I have a credit card, probably the first one, which I took out 10 years back. But, I want to close that account since the interest rate is relatively high. But, I know that closing an old credit account can affect my credit score. But if this true, will I not be able to close my oldest credit card account ever? Will it continue to appear in my credit report for 10, 20, 30 years - as long as I use the card?
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.