I know I've asked these questions before, however....For those of you that are doing debt settlement can you tell me how long your programs are? How far past due were you when you entered your program? How bad have the collection calls been?
We are in a dmp, however the payments are killing us. I entered the DMP primarly to get help with the PDLs, however...most of them would not work with the plan and I've ended up paying them all, I make my last payment next Friday. So the credit cards are left. We have about $23,000 in credit cards and unsecured loans. I know from other posts that it takes a while to get sued in most cases, we just don't know what to do anymore....Reny
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.