The debt management company have suddenly decided that I need to do an income/expenditure assessment, this is not a problem as such as I have done lots of them in the past sometimes on the phone other times by filling a form in and sending back to them. However, they have just told me that they have to verify these sets of figures by either a Bank Statement, sending in wage slips (from my wife), I get disability benefits you see, anyway this is something I disagree with do you know if I really have to comply with this? Thank you.
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.