I get a collection letter from Resurgent Capital..one of LVNV's entities. I send them a DV letter. They send me what they consider validation....something printed on their letterhead that says "We are collecting for Washington Mutual, the amount is $XXXX and there may have been interest added to make it $xxxx.
By signing up for 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 pay off 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.