As I have read other threads on this site, I am thankful that I am not alone in the trap of payday loans. It is a constant cycle that I am ready to break. I am getting seperated from my husband and will be raising three kids. I know I could make it with my income with I could at least get back to ground zero and away from these loans. Most of my income now just pays fees and interest. I am in Ohio and I owe a mixture of internet and storefront pdls. I have 7 out now. I was looking for a company that could consolidate them into one monthly payment. I looked into Langhorne but from what I see from the site, that I will pay them more in fees than the loans themselves. Closing my account is not an option. I have other bills that come out as ACH.
Can anyone give me some advice?
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.