Collectcorp sent a notice to my adult son regarding an amount due $3499.78 for American Express Credit Card. I mailed a check to Collectcorp for the total amount due on my son's behalf. I called the representative to follow up and was advised that $288.98 was still due to pay the account in full. I provided my account number and authorized a debit for $288.98. A month later, without authorization or communication, Collectcorp made two debits to my account in the amounts of $81.86 and $2.99. I called and left a phone message for the representative, but he hasn't returned my call.
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.