My mother has been receiving menacing calls from a collections agency attempting to collect on a $300 payday loan from checkNgo originally due in mid-september 2011. I want to resolve the issue but need advice on the best manner to do so. They insist that I owe them almost $2000 which I simply cannot pay back. They keep saying that a sheriff is bringing paperwork over and that they will come arrest me at work if I do not pay the money sight-unseen. I've requested documentation of the debt and they have said that they are "past that phase". What should I do?
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.