Hi, I have just received a letter from a CA. I am uncertain as to where this debt originated but it could be from my time living in the UK as I have no debts here in the US. My first question is assuming the debt is valid, do they have any right to demand money from me given that this debt probably originated in a foreign country? My second question is how amenable are companies such as these (I think they have been assigned the debt rather than have bought it) to settlements below the original loan amount.
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.