My husband has a judgment for a Chase account. Recently, he received a collection notice from a lawyer listing the total balance, the name of the original creditor and the court case number. The lawyer has given 2 options to pay off the debt along with interest and fees.
The first option is to pay the 50 percent of the total amount.
The second option is to pay the total amount in 7 installments. Which option will be better for my husband? Should my husband pay the money to court or the lawyer? I’m asking because this is a judgment account. We live in Kingsburg, CA.
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.