After not making payments since Dec 08, I called Chase and offered to settle the account for 30% after about 30 seconds on hold they countered with $3500 or 32.8%. Needless to say this is a big weight off my shoulders, and I'm happy I came across this forum. I little research saved me thousands. I'm glad to say Im back on track with my financial obligations.
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.