I live in Texas and currently have 5 pay day loans and 1 loan in collections.
Cash Central- 1288.00
CashnetUSA - 2152.00
Big Picture Loans - 780.00
Cash Factory - 280.00
SpeedyCash - 1905.00
Rise Credit - 2104.00
I have been just paying the refinance fees
What are the first steps I need to take to resolve this? From reading it seems as though I should revoke ACH authorization and contact the lenders themselves and ask to settle the debt. I have paid thousands of dollars to these people and would like to stop the cycle.
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.