I have been contacted by Asset Acceptance, LLC for a debt collection issue. As far as I can tell, the debt is at least 16 years old. It does not appear on my credit reports and has not for almost 10 years. Are they legitimately trying to collect this debt and am I still obligated to deal with them under the Fair Debt Collection Practices Act? Can I simply send them a letter telling them not to contact me?
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.