I am about $20000+ in debt. I contact The Credit Card Solution company to learn more about legally eliminating my debt. The program is that the company challenges the validity ofyour debt and files paperwork against the credit company saying your debt with them is not valid therefore your (the consumer) owes the creditor nothing.
When I contacted the company I talked to a woman who is working out of her home. During our conversation she stated, 'Oh my fiance must have just come home.' Anyway, the cost of the program was $6000 up front or ten 'easy' payments of $750. I told he that is outrageous in that my biweekly pay is $700 (net). I told the company representative I wasnot interested because of the cost of the program.
When I told her I was not intrested,she then told me about a program created by John Gliha whereby, for only $1200, you start your own company (LLC) and attach your debt to the company. When you are sued the suit is against your company that holds the debt, not you persoanlly.
Anyway, don't waste your time or money with either program.
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.