I had a HSN card for a little over a year, I was notified by the credit bureau that my account with them was closed. I called up to find out what happen and nobody had an answer and they seemed as baffled as me. The funny thing is three days before they closed my account they increased my credit limit. I don't understand I have never been late, I pay the bill on time each month. I contacted World Financial Bank and HSN... of course I never get a straight answer. This closed account has affected my credit score and I am really upset.
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.