The statute of limitations in CA for unsecured debt is 4 years; how come charged-off accounts from 5 years ago would still be listed in a credit report? If these are real unpaid debts, can they be removed upon formal/written request, or would a bankruptcy be the only way to remove them? If not, will they stay on file forever, or would they automatically fall off the list at the end of 7 years from last activity?
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.