Discussions about the debt can only be held with the debtor, the creditor, the attorneys representing the debtors and creditors and credit bureaus.
Wed, 03/20/2013 - 10:15
I had taken out a personal loan with a creditor and it has passed into collection now. My family members didn’t know about it. I am afraid that my workplace image would be affected and if my mom comes to know about it, she’ll be worried sick. Can a collector reveal information regarding my debt to my family or in my office?
The contents of this web site are not intended to establish an attorney-client relationship, provide the reader with legal advice, or substitute for legal advice from an attorney.
The debt settlement program typically lasts between 6 months to 4 years time.
At least 30% of the debt amount per creditor needs to be accumulated in the trust account for OVLG to give the creditor any settlement offer.
Not all creditors or debt collectors will accept a reduction in the balance, interest rate, or fees a customer owes such creditor or debt collector.
Pending completion of the represented debt-relief services, the customer's creditors or debt collectors may pursue collection efforts, including initiation of lawsuits.
That the use of the debt-relief service will likely adversely affect the consumer's creditworthiness, may result in consumers being sued by their creditors, and may increase the amount owed to creditors as a result of the accrual of additional fees and interest.
Savings a customer realizes from use of a debt-relief service may be taxable income.
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