I got my free credit report at the end of 06. Finally, after 7 plus years of waiting for some old cc debts to drop off, they did. All of the collection agencies were removed as well. However, a couple weeks into 07 I received an attempt to collect a debt from a collection agency that bought the debt. Can they now, since it is a new company, add this information to my credit report engaging this into another 7 years and again messing with my credit? Or, since the original debt was past the SOL, they are not allowed to?? I have read here that it is possible that they can do that but all I need to do is contact the credit bureau to have them remove it due to the the debt being over 7 years. What is the case? I was also told that I should go ahead and send a cease and desist letter asking them to not contact me further on this debt or I will continue to receive letters and possible negative adds to my credit report.. should I?
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.