I am hoping someone can answer my questions. I am being sued by a credit card company for $2300.00. I have the option, per their lawyers to settle for $1700.00, or $100 a month for 2 yrs. If I choose the monthly payment plan, I still need to go to court so they can obtain a judgement against me. My question is, do I have to decide before court? Or will the lawyers the day of court still offer me those options? Or is it then the judges decision? Also, when the judgement against me is rendered, must I pay the total amount up front? Obviously, I do not have it, or I would've been paying them on time in the first place. Any advice or opinions would be appreciated. Thank You!!!
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.