I sent off my C&D to Delbert and got back their standard letter saying I still owed the loan, tribal law, and all that. I have not responded to that one, but have since received two other letters from them offering new payment deals. The most recent one knocked the payment to around $320 and the interest rate to 16%, but does extend the payments. My loan originated in Florida. I do not plan to accept this offer, but do I need to respond to tell them that? Do I need to communicate with them at all at this point or just wait for them to blow themselves out?
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.