Hi, I have a few questions. First, I recently talked with Allied Interstate attempting to collect a loan from my wife. If I've already talked with them, is it too late to send out a debt validation letter?
Second, my wife incurred the loan before we married, I am not a cosigner, and she is disabled. She has no way of making an income for herself. Since I didn't sign for the loan, I'm not legally required to pay it, right? I mean, I wish to help her pay it in time, but I have my own loans to focus on first.
Due to past issues, her credit score is shot, she has no wages to garnish, and the bank account is in my name. Is there any unforeseen things the credit agency could do that I'm not aware of?
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.