Hi there my husband and I have over 30K in credit card debt,we're having a hard time keeping up with our minimum payments;we're considering a DMP but don't want to close all our accounts,not because we want to keep charging but we have accounts that we can manage to pay off on our own.I am also looking into our creditors hardship programs.What do you advise?
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.