I have lots of debt, both credit cards and other personal loans. I have only one more PDL that I'm still working with, Zip19 (the worst!) and now I need to start working on my other debt. Do you suggest I try to tackle this myself or use a company to work with my creditors? I'm not sure the first step if I do it myself but after reading several posts, I'm a little scared to trust a company. Any suggestions on what is a good company to use? Any advice would be great appreciated!
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.