I'm trying not to just walk away from my 7 PDLs, but I need some flexibility, maybe better terms. I'm in Texas, and they actually keep pissing me off more and more. I just sent revocation letters (I had informally told them I wouldn't allow access to any bank account), I had already opened a new account and moved my direct deposits over there. My old bank, BofA, won't let me close the old account, though it is hundreds of dollars in the hole due to NSFs. Anyhow, ACE told me they cancel my ACH withdrawals, but that automatically puts me in collections. I am not talking on the phone to anybody, and ACE and CashNetUSA are the only ones that talk to me at all via email.
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.