I recently enrolled in a debt management Plan with Money Management International. One account, AMEX - Gold is not eligible for the plan and is currently in 3rd Party Collection with allied interstate for 21k. AMEX will not even talk to me about the account. I am terrified of dealing with Allied after reading all the negative feedback regarding them, and the way I was treated on the phone by them yesterday. Should I insist on attempting to get a payment plan through AMEX or try and work something out with Allied. I can fit a payment plan in my budget that will pay off this debt in 4yrs but cannot possibly do more than that due to my other obligations with my Debt Management Plan that accounts for my remaining debt.
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.