I am in need of some advise. I have many loans in default and are due for garishment. The collectors want 900 a month for 36 months for a 31K loans. I can not afford this, but it my only option to stop garishment. I obtain SLRO services out of frustration and not knowing what else to do. I tried settling my account on my own but I can not afford this monthly repayment amount. I have 3 days to cancel SLRO and recieve my full refund. What can I do. The collector is CBE for Edfund.
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.