I am in need of desperate help. I currently have 8 payday loans outstanding and when I get paid next Friday they will be taking their chunk of my paycheck. My husband is out of work and I am the sole provider for us right now. I am also looking for part time work. My question is how can I prevent them from debiting my checking account next week without closing my bank account. If I stop the automatic deposit on my check then I will be hit with bounced check fees. I am at wits end with this nightmare. I have signed up for the debt mgmt program and someone will hopefully call me tomorrow or later, but meanwhile if someone can let me know what to do.
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.