I had a call from CFG & Associates stating that they are collection on a payday loan I received in March 2009 from PDL Ventures. They state that I owe $337 and gave me a "case number" and said that if I do not want to pay this debt then they will continue with legal action. I'm a full-time student and on my own. I REFUSE to give out my routing and account numbers to anyone. They said I could make three payments of $112 by credit or debit card.
I haven't received anything in writing from this company and this is the first I have heard of them. Does anyone know anything more about them? I do not have $112 to give them right now, I will in the next couple of weeks. Should I send them a Debt Validation Letter and a C&D letter? Can they sue me for $337?
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.