HSBC sent my account into collections in 2010 (Corporate Receivables). That same year I sent payment in full to Corporate Receivables. Now, 2 years later it is still on my credit report and I need a debt validation letter from them and I've found 11 different phone numbers for Corporate Receivables and ALL of them are disconnected. I'm sick over this. I paid in full and they didn't do their part to remove it from my credit report and now I cannot even find valid phone number for them.
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.