My name is Andy and I want to thank the community from the bottom of my heart. I was receiving threatening calls from 500 Fast Cash and 123 Wages for nearly 4 months. They were asking me to pay a very high amount. I was totally frustrated with the collection calls. I was thinking about taking out loans in order to pay them back.
Thankfully, I came across forums during that time. The forum members informed me that these lenders are not legal. They also informed me that I don't owe a dime to them. I was so relieved. I followed the instructions mentioned in the sticky 'dealing with illegal lenders' and was finally able to get rid of them.
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.