i got a call from these people today and I found this on their website "In retaining Consumer Recovery Network (CRN) to handle your debt(s), you will first authorize CRN to negotiate with your creditors. CRN will then obtain written settlement offers and forward them to you. You choose to accept or reject submitted offers. CRN's fees for full service settlements are earned on a contingency basis. Meaning; If you do not accept the settlement offer(s), you will have paid nothing at anytime and are under no obligation to accept any future offers.
Unlike most of the settlement industry that charges an average fee of 15% of the total debt, CRN's fees are based on 15% of the total savings."
How does this sound to you all?
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.