I got a call today from a collector saying that they would be serving me a letter of intent to start litigation over a payday loan from 2 years ago through Check N go. I called check n go and they said it had been sold to another collection agency. Can I really be sued by a collection agency? The guy that called this morning said he was a process server and that he wanted to give me time to get it cleared up before he serves me. Doesn't this seem weird? I worked in the banking industry for a couple of years and when your being served they just do it. No notice at all. They said it is breach of contract and fraudulent use of a check. Any advice?
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.