My sister had a loan with PGL that went into collections and is now in the hands of National Credit Adjusters. She has been through a rough spot the last year and is current on all her other accounts. However, she cannot pay off a lump sum the debt collectors want. She is worried that they will put a collection on her credit report. Should she try to work out a payment plan of $100 a month for this Plain Green Loans account, or just write a Cease and Desist? We don't know how sue happy NCA is. :)
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.