I recieved a phone call this morning from FTR processing company stating I have an outstanding balcance and that I needed to pay before they filed a judgment against me. The guy was not able to tell me who the debtor is asking for $200 a month for the next 3 months. Does this sound legit? I am afraid because I gave all my bank information. I have a bad feeling about this.
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.