a student takes out a subsidized stafford student loan in 1989 as an unemployed, single, unmarried student. Misses three days of class due to a death in the immediate family. When she returns, she is informed that she has been dropped from the school. No income of course these loans went into default. Now, 20 years later the student gets married, her new husbands income tax return was intercepted for the loan she acquired BEFORE he was ever in the picture.
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.