I have a lot of debt from a separation I went through two years ago, including unauthorized accounts opened in my name by my spouse, which I am trying to pay off but it is just too much. The major things are two vehicle repossessions that are hanging heavy on me. It has been about a year and a half since those went back and I am trying to lower payments by getting rid of things like going to a cheaper car now. But I am afraid the debt to income ratio and credit history are getting in the way. Any advice on the situation would help. Thanks!
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.