An entry called TABANK, in Schaumburg Illinois showed up on my credit report as an "open revolving charge account that was oppened Dec/1998. I have no idea who this is and am going to write to the address on the report and ask that it be closed. This type of thing causes what they cause excessive credit or gives you the impression that you could charge up to the credit limit if you wanted to. Do you recognize who it is?
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.