I just set up an arrangement with them. I took out a $300 loan in Nov. 2007 and have been paying them $90 every two weeks. I returned a phone call from them as I closed my account and my last payment didn't go through. He stated I owed $480. I'm like wait, the principal is only $300 and I've already paid you $1620, isn't there something we can do. He says well how about if we just pay the principal of $300. Not the best but better than nothing. He wanted to do a pre-paid debit card, I said no way the only way was moneygram, western union or money order. He agreed to moneygram and we set it up with the last payment being the end of Sept.
As I said, not the best but better than nothing. God, I can't wait till I am free and clear.............. I'm already thinking of a way to celebrate.
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.