Hello Everyone...I was with Sifxpert. I didn't give him any of my money except the $500 retainer. No accounts were settled. I just settle my Citibank for 38% and one of my Chase accounts for 55%. I have at collection agencies Bank of America (united recovery systems), American Express(NCO), another Chase (just went to Mann Bracken...this one was just charged off and Chase won't take it back) and Discover (Zwicker and Associates). I haven't contacted any of these collection agencies yet. Will collection agencies settle? Not sure what to do now. I'm scared to call them. Any advice would be greatly appreciated. Thanks!
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.