There are reasons why a collection agency might view your report. These are the reasons why they check your report:
* to gather information about your assets
* to find your address
* to check for open credit card accounts
Again there are reasons for these:
1) They gather information about your assets when they intend to sue you
2) They search for your address when they want to get in touch or serve you
3) They check for open credit card accounts to assess your ability to pay back. _________________ Regards,
Your credit report can be pulled out by any organisation who needs to work with you in some or the other way. If anyone has an existing account with the credit bureau its not difficult for that person to pull your report out as well.
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.