I have a small problem. I live in NC where payday loans are illegal. I got an settlement offer from Arrowhead before I got an response from the NC Attorney General office. Once I got the letter, I faxed a letter to the company telling them that payday lending is illegal in my state and I am only going to pay the orginial amount borrowed. I got an e-mail from Dennis telling me that I waved the right to follow my state laws. What should I 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.