Okay, I have a question. I have a loan with MBNA that went into charge off, that I am paying to a collection agency by the name of "Phillips & Cohen". They send me a statement every month, which I really like because its documentation that they have received my payment and have applied it the balance. I like being able to see the balance go down.
My question, they show 'their' client as being 'Hilco Receivables LLC' not MBNA. Are they a collection agency? [Hilco] or are they MBNAs 'in house' collections? If so, then that goes back to my question about a collection agency collecting for a collection agency. Only MBNA is on my credit report as a charge off, no other CA is listed. just curious who Hilco is.
I have another account that is also this way, they have their client listed as Midland but they're not the OC.
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.