I had to stop paying on this installment/pdl last year with First Bank of Delaware. My balance is like $778. I just started receiving phone calls from this collection agency they have (Turning Point Capital) threatening me that I am going to be prosecuted for bad check fraud. I had to cancel my bank account right after stopping payments to them because I was a victim of identity theft. They are also saying my wages can be garnished...is this true? I am a single parent and have a very ill parent I am caring for and just dont have the $ they are requiring to settle. What are my options here? Can they have me arrested?
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.