I have been contacted regarding a defaulted GC services student loan. For the past three years my tax were taken. I find the people at GC services to be very rude, unprofessional, uninformed, etc. The Dept of Ed said I have to deal with them in order to rehabilitate my loan. What are the steps I need to take and do I have to deal with GC services? I read so many bad things about them online? I borrowed $6,000 thirty-five years ago and it is now $21,000. Should I ask for a validation letter? Is it true that after I pay the required payments to rehab my loan they can then put my monthly payments up to whatever they want? What if I can't afford that then? Help! I do want to rehab this loan to the Dept of Ed.
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.