My parents have been victimized by a sweepsatkes fraud that asked them to send cash to cover "costs" of getting their winnings to them. Over the course of many months they forwarded all savings and tapped cash advances on credit cards. They are now unable to pay their credit cards. Do they have hope of receiving any relief from their credit card debts?
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.