I am in Illinois and have a 450.00 pd loan at CashDirect express that I have not paid due to my account being closed prior to the first payment being made. After reading all the great advice here, it is probably for the best it happened that way. I am now getting calls from their collection agency, MG recovery, in Utah. I can send them $100 this week, but that will be it for a few weeks. Does anyone know if this company is legal in Illinois? I want to pay what I owe, but it may take some time....
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.