Ok, I have an account for GE Money Bank. They sold it to Arrow Collections. Arrow Sold it to Collect America. The letters and phone calls I am getting are coming from The Law Offices of Richard Clark. Doing research on them I came accross the name Law Offices of Samuel W Streeter. I called that number, and the person who answered the phone said "Law Offices of Richard Clark". Not to mention, on my credit report it says I am paying "Collect America". What in the world is going on here? Right off the bat they threatened to sue if I didnt set up payment arrangements. The total amount due is less than $1000. They are real jerks, and the payment notification letters state they have recieved notification of payment in a certain amount for a day this month. Nothing ever specific. Total Bull. Ive paid them to this point, however my bank account was compromised and all my money was stolen. Therefore this last payment may not clear. What should I do?
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.