Capitol One charged off one of my cards at $1900 but after interest and everything it ended up ballooning to $3600. CA properly validated and my attourney told me that even though Capitol One charged off, they still owned the account and still charged interest.
Well I ended up settling for $1500, way lower then my lawyer thought they would accept! Happy to get another monkey off my back!
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.