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Debt Settlement FAQ's Can CCDR stop interest, fees, and/or penalties or freeze my account balances?
Debt Settlement FAQ's Can CCDR stop interest, fees, and/or penalties or freeze my account balances?
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| Can CCDR stop interest, fees, and/or penalties or freeze my account balances? |
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Question 22- Can CCDR stop interest, fees, and/or penalties or freeze my account balances? Answer: No. Whether or not these additional charges can be added to your account is determined by the agreement you signed with each of your creditors when you first obtained the account. If the agreement allows for these additional charges, then we cannot prevent creditors from assessing them. Of course, if your creditors continue adding these charges, then your account balances will keep growing until we are able to negotiate settlements. But remember, even if you were able to continue making the minimum monthly payments, these charges would be added. Also, even with these additional charges, we are going to negotiate a lump-sum final settlement, and this amount is typically far less than the total balance due. Therefore, in the long run, these charges are nothing to worry about. |
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