I had a credit card with Plains Commerce Bank. 2003 was the last payment made on this account. In 2006 Total Card Recovery contacted me and sent them VOD letter. Nothing came back from them. Now I just got a letter from Zenith Acquisitions Corp trying to collect on the same account. Just mailed them VOD letter today. What should I do next?
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.