Just wondering if anyone else has had this happen. I received a notice from mypaydayloan.com stating that my account has defaulted for non-payment of my bad check and has been reported to Contribution, a service of SCAN. Being listed in this service prevents check writing at major retailers, such as wal-mart, target, etc. Once reported with will make applingy for checking/savings accounts at financial institutions nearly impossible. Is this correct? I am freaking out a bit. I didn't think payday loans would report to check writing places like SCAN. I also do not want it to impede my ability to open another account if need be in the future....
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.