I received a credit card offer in my mail yesterday. The offer is quite good. The company is charging very low interest rate on the card. The offer is valid for only 2 days. They have also mentioned the website where I have to create my account. I just need to give my bank details and Social Security Number to open the account. I told my father about this. But he is skeptical. He is saying that the offer is too good to be true. Now, I am confused. Who receives such good offers everyday? But my father also has a point. What should I do? Should I accept the offer? Is it case of scam or identity theft? Please advice.
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.