I just got off the phone with Ande at the KY State Department of Financial Institutions. She confirmed to me that internet payday loans are illegal in the state of Kentucky. She said close your acct, change your numbers and inform family, friends and coworkers of what these people are capable of. Do not pay them any money. In my case I have paid them many times over so it is my feeling that they actually owe me. FAT CHANCE.
She said there is nothing they can do to them, however she did ask their names, but that there will be new legislature 7/01/08 regarding these internet payday loans.
I just wish I knew more sooner. I have paid 1000s and 1000s of dollars to these people trying to do the right thing.
I hope this helps someone else sooner in the process than I was able to catch on.
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.