I have received a letter from the IRS stating that information on my tax return does not match information submitted to them. Last year I used a debt conoslidation company to get me through some very tough times. I paid back all of the money specified by this company. I have never heard of CACH LLC the company listed in the IRS letter, nor did I receive any 1099-C form from them. Any idea what this is all about? :evil:
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.