Hi everyone. I have been lurking here for a while now, educating myself on pdl's. My situation is this. I have an installment loan with First Bank of Delaware. The original loan was for $1300. I have $274 debited every 2 weeks. I have 4 weeks left & the loan is paid in full. Unfortnately, I am unable to make these payments for another 4 weeks. (Making the past 5 payments has put me in the red!) I have closed my bank account this week(due to unauthorized transactions from identity theft).
My next paymet is due the 7th (tomorrow) & knowing I wouldn't have the funds by the due date, I emailed them Monday, the 3rd, to see if the date could be moved back a week. I just received this reply to my email:
"Unfortunately the First Bank of Delaware , the bank that approved you for the installment loan, does not allow the payment dates or amounts to be changed due the apr calculation on the loan.
It is in your best interest that the payments are made according to schedule. We do not want you to have to pay additional fees that may be incurred if a payment is not made on the due date.
Check 'n Go Online is a servicer for First Bank of Delaware . Therefore the underwriting and procedures of the loan transaction are controlled by the bank, not Check 'n Go. Per the loan agreement that you electronically signed, you must pay according to the schedule that was represented to you on that loan agreement."
The checking account is closed, so the payment will not process. What do I do now?
By signing up for 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 pay off 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.