In November 2009, I began on my road to recovery from years of mounting debt....that "monkey on my back."
Thanks to the wonderful Debt Consolidation Care forums and sample letters, I have eliminated 11 negative tradelines (with only 1 Pay for Delete). And, I am in the process of settling another account with a collection agency (yes, "settled" with a $0 balance...tough dealings with Debt Recovery Solutions).
I still have a few accounts on my credit report that show closed/charged off with $0 balance...just going to let them fall off over the next few years.
Now, I'm working on credit repair. I've been approved for my first secured credit card.
Slowly, slowly...making progress.
Thanks to everyone who unknowingly has helped me overcome a major hurdle in my life. I send you my deepest appreciation. :D
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.