what is statute of limitations with the creditor? i have never heard of this. I have been in debt settlement with ADF going on a year. none are settled yet and two are persuing arbitration. should I be wooried because I am terrified. we had over 40,000 in credit card debt and were on verge of bankruptcy, thats why we did settlement. i am so afraid of summons or garnishes. thanks for your time
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.