Chase bank agreed to a short-sale several months ago and I paid the total principal due at closing. Now G.C. Services is calling and saying there is a $26,000 debt. (probably interest and fees) They want me to fax them my short sale closing statement. I told them "no". She said they will keep harassing me and hung up on me. Did I do the right 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.