I got a call from an litigation group called LakeShore Capital. They actually called my mom, my brothers mom and my wife's mom. Ugh... They said I took a payday loan and closed my account. I was in payday loan debt, that is why I closed it. The payday company is called Pack Management group. I have no idea what that group is at all. I am going to get an old statement back in December from my old account to see who they are. The litigation team is saying if you don't settle, they will sue me for closing the account and not paying back.
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.