Anyone has heard of Rancho Credit Management in Encinitas, CA? I have received a letter that I owe quite large amount to them, with original creditor indicated. I straight to Better Business Bureau site, but could not locate them. They even do not have website, etc. First I need a verification of this debt. Then, I need to know if this company is credible, I mean a good one to deal with.
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.