So I took out a student Stafford Loan a few years ago with the University Of Phoenix Online. I dropped out after less then a year and never received a bill. Now I go on my credit report and the loan company filed a claim with the Government. Am I safe to assume that they will take it out fo income tax now? What rights do I have and can I correct this so this won't happen?
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.