Please don’t judge me, I already know I am an No You are not!!
I took an installment loan from Spot Loan. I made three payments. I now realize, I cannot continue to make the payments. The initial loan amount was for $800. I have made three payments, of $135.00. I don’t seem to be making a dent in the interest rate!
I don’t even know if installment loans are legal in my state. I am in Pennsylvania!
I don’t know if I should I just take another installment loan to be able to make the payments? On the current loan, just to stay current with the payments. I don’t how to hand this mess.
I don’t know if an installment loan goes on my credit report?
I am so clueless, and overwhelmed, and feel like a moron….
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.