I was in a bad car accident; and was unable to work - the drs cleard me 13 months later. Now that I am working again - I want to clean my cc debt. However after 1 year and 1 month the interest charges and fees have gone completely out of control. What should I do? Contact the 4 cc card companies or 1 of many collection agencies, where is the best way to start - I want to do this right the first if there such a thing.
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.