I have defaulted on an internet loan from Speedy Cash. I have received a letter from the CA (Ad Astra Recovery to be exact) with the correct balance I owe to Speedy Cash. I have then logged onto my account on Speedy Cash.com and I had the option to submit a payment directly to Speedy Cash. If I could still pay on the Speedy Cash website, then why did they send me to a collection agency? If I pay directly to Speedy Cash, then what should I do about the collection agency?
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.