I have 2 credit cards. The first one is Barclays and the other one is American Express. The outstanding balance on the first card is $1500 and the second card is $3500. I won't be able to make minimum monthly payments on both the card next month. So give me suggestion. Shall I skip payment on the Barclays or the American Express? Which one will affect my credit score less?
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.