I am at a loss with a previous loan. I think I paid it off, at least the principal amount. But then, there's a call from the collections department saying they have bought the loan. i have asked them to validate. Now I remember, can they come after me if I haven't paid the interest? I have paid the principal amount I remember. It is a storefront loan from a company.
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.