I just received a call from Christy and she said an old Sears debt of my husbands had been turned over to her and it was a "prelegal account". I asked her what that meant and she said they were just before legal action and these folks meant business, they could and would place a lien on my property, garnish my wages, etc. I told her I had no money to pay anything and she told me that she represented LV Funding. I told her I had gotten other calls and had sent validation letter with no response. She said the validation was my credit report to check it and I would see the validation. I told her again I had no money and she said she would email LV Funding and asked it they would accept a settlement (in monthly installments). Someone please advise me...I don't further action from these people!
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.