I have been lurking on this forum for some time now and thank all of you for your valuable information! I have sent PIF letters to all 7 of my PDL's and have suprising heard back from 3 of them within 2 days. I will make another post down the road of my successes and dealing with this company, but first need some advice on which form of payment I should make to repay the principle of my loans that have been agreed upon by the companies to be settled.
I have been offered to repay by certified check, cashier's check, or money order. From my research, I understand that a certified check will include my account number, so I will absolutely NOT be going that route.
That leads me to my question: Should I pay by cashier's check or money order?
It seems that neither method will include my account numbers (which is good). I have seen that a restriction with a money order is that the maximum amount you can use is $1,000 (which doesn't matter in my case because all of my amounts owed are lower than that). So, what are the pros and cons of each method? I just want to make sure that the payment is traceable and I have receipt acknowledging payment.
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.