Recont trust (Bank Of America) is selling our home to day. We have tried to modify our loan with them but they wont budge. They had our loand mod packeag from Nov. 1 week before the sale date they tell us we dont qualify for any program & wont give us anymore time. What happends now when they sell the house today. Do we get a letter telling us we have 30 day to get out?
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.