In November of last year I took out a loan with Western Sky. They immediately transferred the not to Cash Call without informing me first. I understand Western Sky is not licensed to operate in my state but Cash Call is a legitimate lender. What are my obligations at this point. Since the loan was originated with an unlicensed lender am I obligated to pay. They are phoning relentlessly.
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.