Hi! I am one of the many that fell behind on my student loans, and didn't qualify for an extended deferment or forbearance. I recently was contacted by premier credit, set up a repayment plan, and have been making payments (direct debit from my checking account). I received a letter that sallie mae is garnishing all of my state and federal tax returns in order to pay off my debt. Is this possible?
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.