Unbelievable...the stories I am reading about BOA are my own...almost verbatim. The constant calls...misinformation...transfers to wrong departments...one says you have been removed from the program and the other says everything is fine (same phone call) and documents have been sent and you've been approved for the Making Homes Affordable workout. Workout? The only workout I'm getting is dialing their number and getting the run around. Today I received a Notice of Intent to Accelerate dated the exact same day I spoke with someone who told me all was fine and foreclosure is put on hold due to me being approved for a workout. Don't know what to do...tired of losing sleep over this crap. Has BOA actually foreclosed on anyone while "still in work out status"?
We should contact a Congressman or someone that can speak for us regarding the tactics of BOA and clearly misuse of funds given them by our government to help people like us, just trying to survive...it's criminal. In some of the hardest times our country has seen, the last thing we need is more stress created by a program designed to relieve it. Perplexing.
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.