Can you be put in jail for not paying payday loans? I have too many store from payday loans and I cannot keep up with them unless I take out more payday loans or use this debt consolidation service. I am worried that these payday loan stores will press criminal charges on me. I have 5 outstanding loans with store front payday loans. I have every intention of paying them back I just cannot make the payments that they are asking for.
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.