I have recently found this forum and am so thankful! This week I will begin the process of sending letters and contacting my bank. I live in NC and have learned that all my loans are illegal. However, I do have an internet loan out with Cash Taxi due on Friday. They do not allow you to pay interest only, you have to pay in full. I borrowed $225 and am due to pay them $300 on Friday. However, I have had loans with them in the past and overpaid those loans by $120. How should I proceed?
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.