I hope someone can help with this. I have a loan with CashNetUSA which operates as a CSO in Texas. They show being a member of the CFSA, so I was looking to setup a payment plan with them. I was told that the EPP was not available to people who loan in Texas and that I must default before they will work with me (I haven't defaulted yet). On the CFSA website if you click on Texas, it shows that payday loans are NOT offered in Texas.
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.