I am currently having my wages garnished to repay about $15k in student loans.
I am about to change jobs, and understand that my wages will eventually get re-garnished when the creditor gets information about my new job.
I am willing to set up a payment/rehabilitation plan if garnishments aren't renewed, but I cannot pay off the entire amount at this time.
If I set up a payment/rehab plan, can the creditor still initiate the wage garnishment once they receive the information about my new job? How likely are they to re-initiate the garnishment if they know I am willing to fulfill a rehab plan?
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.