I received an online loan through Sigma. Every time I am paid they deduct $89 from my account. I have paid the $89 three times so far. I have gotten in over my head in these payday loans. In order to get out, they want me to pay $289. I loan was only in the amount of $200.
Also, I have another payday loan, which I found out is illegal in my state due to the interest rate. I have not paid the principal off yet. What should I do if I am already closing the account due to a tribal loan?
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.