I called them up because i have a citibank card that i had not paid in about 10 months. I offered a 50% settlement and they wanted 66%, i countered for 55% and they accepted it. I know they are the collection agency because i was given their number by citi and they had all of my info when i just gave them my name. I can pay this, but am wondering if I should wait them out and get a better deal when the account is sold to another agency. The rep told me the account was placed in their company in February of this year. The balance on the account is $21,000
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.