I just got served from Scott & Associates for Barclays Bank Delaware. We are currently in a debt settlement program, National Debt Relief, and I've already forwarded them the papers. But while I wait for their response, I'm wondering what others can tell me. What is our likelihood to not be sued without paying the full amount due? The original debt was $1800, and now it's $2200. We can't afford to pay, hence the reason we are doing debt settlement. We live paycheck to paycheck as it is and can't really afford an additional monthly payment to settle, either, though we'll find a way if we have to. Any advice?
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.