They have taken my tax return for like three years and I’ve finally saved enough money to pay the loan and interest in full. I want to know the best way to go about paying the loan principle and interest off, but avoiding the collection costs?
Do I go directly to American Student Assistance and try to cut out the collection agency? They have been difficult to deal with and the collection fees are something that I really don’t want to pay, they have recently taken over the loan and have done nothing for me.
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.