I was contemplating accepting the services of nationwide debt direct llc. If they could reduce my debt to various creditors by 60% via bundling it with other people's debts and negotiating on my behalf i was willing to take it even if they are making money off me - i would still pay less monthly than i do now and be free of it in a reasonable amount of time. However, upon Internet search I uncovered certain level of dissatisfaction with their services. Please 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.