I have/had this illegal payday loan. I revoked ach, which they have honored. I owe around $200 from the original principal that I am willing to pay (when I can in about a month). I got an email from them saying they are giving me 3 days to pay or contact them to make arrangements....but, they say that I owe $438 and they are offering me a one time settlement amount of $557? How is the settlement more than what I owe? Anyways, they said that if I don't pay it will be on my credit report and teletrack for 7 years. Can an illegal (Malta) pdl do that? What is a teletrack anyway?
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.