Can Plain Green report to credit bureau even if a settlement is accepted?
Mon, 11/05/2012 18:21
Hi, I just received an email from Plain Green that they accept my settlement offer of principal only and will consider the debt paid once the last payment is made. My question is can they still report the account as late or a settlement instead as PIF? Thank You, Heather
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.