The condominium holds a lien on a property, the owner owes 1 1/2 year of maintance fees and assesments (never answer our letters). Now, this person wants to negotiate and is asking us to release the lien. We are afraid that as soon as we accept to negotiate and release the lien, this person will stop paying (as done in the pass) and we will end up lamenting our decision. What do you suggest?
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.