Hi, I have just received a call from Protocol collection services advising me that a charge card that i had opened 4 yrs ago has been referred to them. They could only provide me with the amount owed and how mucg i could settle for. I have tried contacting HSBC but i get no help from them either. HSBC does see where i called to cancel my account but obviously they had not( Kicker: After the call i made to them in Jan '06 i never recieved an invoice or collection notice to date) So in turn i beleived it was cancelled and taken care of. What should i do from here?
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.