I opened a loan with them in 2006 for 200.00 for some reason I forgot about the whole loan my bank account was closed a long time ago due to fraudulent activity. Now here we are 2008 and they are contacting me at work saying I owe almost 4000.00!!! They are nuts! I told them I do not have this money to pay and because of there language barrier they seem to not understand! They are threatening to send me to wage garnishment! I told them I spoke to a legal advisor and now they say whatever I could give? hmmmm could they still take me to court? What if I go bankruptcy?
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.