My son attended an expensive university because he audition for it and was accepted. His tution bill came to $11,432.14. Even with a payment plan we were unable to pay it. It was turned over to a collection agency less than 30 days ago. They have increased the pay-off balance to $14,856.19. I don't understand why. If I could not pay the eleven thousand, how can I pay fourteen and again why that much?:( I expected to pay more once turned over to the collection agency but an additional three thousand plus? Can I protest? Is there a grace period before I have to pay the new amount?
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.