I flunked out of one school back in 2007, I applied for a forbearance and was in a bad place mentally and didn't bother to check up on it. I started going back in 2009 but obviously too late. Now that I'm in a better place mentally, they've started sending me all these overdue bills that I can only assume means the loans are in default because it says Charged off account. I got my credit report and all of them make sense except for one much larger then anything I took out, but it still says its an open account, but its activity designator says Transfer/sold. I really have no idea what this means and could really use some help getting to understand all of this. I swear they make this stuff as confusing as possible.
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.