I live in NY and was issued a Cross Country Credit card in 2001 which was supposed to help rebuild my credit! What a joke. They gave me a credit limit of $500, none of which was available for use, due to all the initial fees. Here it is 7 yrs later and they are on all 3 credit bureaus, showing as a charge off, under the name APPLIED BANK for $1285!! After doing some online research, this company has class action lawsuits in several states, NY being one of them, due to their rip off tactics. Some people even say that after paying it just to have it removed, that it still wasnt removed. Should this not fall off after 7 yrs?? What to do? I've not received anything in writing from them and no collection calls. But I'm afraid of being sued. I have had it investigated with all 3 credit bureas, and they come back that it was found to be my account. PLEASE HELP!! I am trying to re-rebuild my credit, and they are severely impacting my credit score.
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.