Hubby got a loan through these people and just like with all the rest defaulted. We heard nothing from them until now. I got a letter from Sunrise Credit Services, Inc. and in the letter it says previous creditor tendollarpaydayloan, current creditor- Frist American Investment. They are trying to collect $510.00 on a $200 loan. This CA is licensed in my state to collect. I have a call in to my DFI she is out of the office today. But in the letter it says that First American Investments will report to the credit Bureaus. I don't want to call this CA until I hear from the DFI. Anyone have any suggestions on what to do. I was never contacted by First American Investments.
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.