I work for a bank and just wanted to get other peoples' intake on this topic. So many customers get so upset with me when I ask them for their SS# or other personal information to verify them before I will discuss any of their account information with them. I could entirely understand if someone called you and asked you for your SS# but if you are calling your financial institution is it too much to ask for all of this information?
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.