I am new here. I want to know about debt consolidation. Currently, I have multiple debts and these monthly payments are taking away a major part of my income. I am finding it difficult to meet other expenses. I want a solution to this. I read about debt consolidation, where multiple high-interest payments are consolidated into one manageable payment, billfixer(dot)com/debt-consolidation. I think this is the perfect solution for my current situation. I want to know the risk factors related to debt consolidation. And how do I qualify for this? Looking forward to expert suggestions on this. Thanks.
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.