I was just reading a post about our laws in Louisiana...It stated that for a lender to be legal, they had to have a physical address in our state to be able to have a license in our state. SO, if my lenders, aren't on that list, they are not legal in my state. Which means, my contracts aren't binding. So here is my question...If I have already paid them back at least what I have borrowed (which I had done on all 6 of them)..do I owe them still??? It also said on the post...to send the companies a letter, stating that they are not legal in my state, and I do not owe them any more money, because I have already paid them above and beyond the principle...Is this what I should do??? Need advice Please...thanks!!!! OH...NONE of the lenders are legal in my state!!!
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.