Is this legal?

[DaisysMom]

I got an offer today from a company that works with consumers to decrease their debt by working with the CC companies. They told me that they can decrease my total payments and have the debt paid off in 36 months without going BK.

First of all...I WOULD NEVER GO WITH THIS. I AM FILING BK.

BUT.....What bothered me was that they had ALL of my information. The amount of my total debt and my current monthly payments. I owe $ to 7 different creditors and although they did not have their names listed in the correspondence, they had the total correct amount.

How could they get this info. I never contacted any debt relief companies...only my personal attorney and he does not even have all of my info yet.

Anyone know what is going on here.

D....

[frogger]

There are thousands of ads on tv and radio promoting these companies.

Don't bankrupt!
Don't bankrupt on cc debt!
Let us help you work out arrangements with your cc company!

My thoughts are that these people are companies owned by the cc company. If I were in the cc business, I would rather have something from you than nothing.

The cc companies are scared for many reasons, not only by people filing bk. That's bad enough for them, but more and more people are just saying no to cc debt. That scares them to death!

[momxx5]

I got a letter yesterday too.

I bothered me, I tried to call them to find out where they got my info but I was on hold forever and had to go.

The letter referenced getting the info from Equifax. I am going to look into it because I don't see how/who is selling our personal info.

[StartingOver08]

The CRA's sell your info.

[CarrieOakey]

The CRA's sell your info.

Which unfortunately is perfectly legal for them to do.

Ethical? Oh HECK no (imnsho). But legal? Yep.