A couple of years back I brought a powered car for my daughter for Christmas, a month later my credit card information was used to purchase memberships to pornographic websites. After that there's been similar incidents but not to the magnitude of using my credit card, every now and again I'll get a phone call from a company I've never dealt with threatening to serve me, arrest me, or garnish wages. I've never heard of these companies. I'll call them and get no answer, an answering machine, or a live person that hangs up on me when I ask what the name of the company is.
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.