Business funding loans nowadays finding difficulty to be availed from banks and NBFCs. Credit score issues and poor business credit history and many other factors restricting the sanctioning of these business funding loans. However, Private Lenders give flexible options in terms of repayment duration, processing time etc. But the interest rate in Private Lenders is little higher than with the banks and NBFCs.
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.