I currently have several payday loans that I have been paying on and can not make the monthly payments any longer. I have already closed my bank account and am starting to get calls and emails.
Advance America - 1200 have paid 381.70 Check into cash 600.00 have paid 1022.70, sent them an email asking to consider this paid in full but they advised all I have paid was to refinance each time. Skytrail cash - 1000 have paid 1399.58 (I believe this is a tribal loan) Plain Green - 1400 have paid 353.06 Spotloan - 800 have paid 672.08 Moneylion - 600.00 have paid 1168.96, sent email and all they sent back was my agreement and said I could make arrangements to pay the balance. Speedy Cash - 500.00 have paid 422.72
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.