Recently I've been threatened with wage garnishment by the department of education due to a defaulted student loan that I aquired in 1990. Can my wages be garnished in the state of Texas? What is my best course of action to settling this debt. The Dept. of Edu. is calling for the entire note of $30,000 which I can't afford to do at this time.
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.