I had a loan thru Spot Loan, paid back the principal with an overage of like $18. I filed a complaint wig my AG. They sent a letter to Spot Loan and I got another letter from my AG stating Spot Loan never replied and they are not legal in Michigan and they are taking further action. Spot Loan doesn't bother me buy my $400 loan is now $800 in finance charges. Hopefully they will take this company down too. Yay State of Michigan!!
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.