Today I received a letter from these people and they want payment sent to them at Malcolm S Gerald and Associates 332 South Michigan Ave, Suite 600 Chicago, Il 60604, but they have an address in the upper left hand corner PO Box 1058 Oaks, PA 19456. Thats when the first red flag went up. Then I checked them out on the BBB site and they have a unsatisfactory record with the bureau. I am going to hit them with a debt validation letter.
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.