I had 10 cards and over 100k in debt. I had never been past due but was making the minimum payment. My attorney told me I could not file a Chapter 7 so I chose debt settlement. 30 months later I have 2 cards to go and I feel liberated. The information I learned here was invaluable. I also chose my settlement co based on reviews on this site and they did a great job!
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.